You have to recognize 85% of the gain on the sale of stock in 7 years after you reinvest.  

NYC also recognizes 1031 at the state level also so a San Diego company like Exeter with @Lauren Speidel as sales rep can absolutely handle your exchange.

Not interested in gambling and holding onto this for a few years.

@Terre Oswald in your search you don't have to stay in your backyard.  1031 is a federal statute that all 50 states recognize at the federal level. 

@Alex Price First you must recognize that at the level you're discussing, the business models will be using a cashflow range because they are using IRR scenarios and not the simple calculators found on BP.

Appraently they are considered low risk for lenders and I would think in my situation they would feel pretty darn comfortable that I'm going to be a good gamble.

I recognize it doesnt have huge margins in it but I don't know how to hit 2% in pierce county and especially on a property that has a great desirable location.

As such, we took the gamble we won't have a catastrophic loss from a NS and, if there is any damage, the same $10K we'd have to pay anyway with insurance will take us a good way to being "whole".My own personal home, which is a duplex, is insured at a $250K value and I pay $3600/year for that. 

@Matt Fore Yes it does have to be capital gain although there is some language that just references "gains" so we are waiting on additional guidance as to whether ordinary gains would qualify.I think the reason capital gains need to be invested into the funds instead of straight cash is that by recognizing a capital gain you are selling something which promotes economic activity (selling stocks, businesses, real estate, etc.)

I started going there since about 1990 from SoCal for fun and vacations so i've watched it evolve over the years from a dusty gambling town to an international resort destination and I see huge opportunity there over the next decade - it reminds me of LA around the Sunset Strip and Hollywood in the 80s when it was run down before billions of dollars started flowing in and now those areas are some of the most expensive in the city.