RISKSPrivate Letter Rulings There are three (3) Private Letter Rulings (“PLRs”) that address this 1031 Exchange structure, which are as follows: Private Letter Ruling Number 2014-08019Private Letter Ruling Number 2003-29021Private Letter Ruling Number 2002-51008PLRs can only be relied upon by the individual taxpayers that requested the PLRs.

From my perspective, they are operating in a dangerous gray area. 

Most homes in our area double in value every 5-10 years.

If this is a Class A property in a Class A area, you have the least chance of getting a bad tenant. 

The FHA rules/regs (in particular the FHA self-sufficiency test) are applied the same across all markets, and I know for a fact that in rural communities across the country, and big cities that are not particularly desirable places to live, it's not a deal-breaker, I am not commenting on those areas. 

I'm here in the Atlanta area if you ever have any questions.  

Insurance : This area of consideration deserves its own deep dive so we’ll briefly highlight key concerns. - The underinsured.

Looking to invest in a multifamily in the raleigh/surrounding areas.

I am in a very competitive market here in the Tampa Florida area (Clearwater, Saint Petersburg and beach areas). 

Conversely, a new built A class SFR, in A class market of significant growth via a well laid out planned city development, great schools, area people are glamouring to move to, a-class tenants, very very low risk.