This way the selling entity is the same as the buying entity as per 1031 rules.

The low rise type buildings without elevators tend to have the more relax rules and also the lower assesments, so they can be a good option.

Torn between using my VA loan or use my investment property below to help fund my deal.Been losing deals left and right due to the owner occupied rule with VA.I have about 30k in savings, 30k retirement fund, no debt, low expenses (living with parents until find a place)I Own (under my name) a 5 unit mixed use building (4 residential, 1 commercial) fully occupied.

But with students (and their parents), it's so crucial to lay out your rules/policies bc once you acquiesce at the beginning, it makes for a loooong year

Instead of following these rules, it is way easier to get rid of the tenants and sell the building when it is vacant.

Eric, it is against SEC rules if you're receiving an ownership share for raising money and you are not a licensed broker-dealer (not to be mistaken with a real estate broker).

But rule number one for me is there had to be equity just like a cash purchase..

@George Bell my LLC's do two main things:1) Hide my identity, so tenants can't easily find me. 2) Separate my business and personal assets, income & expenses, not so much for tax purposes, but to avoid IRS issues.-- Just audited by IRS this summer for first time ever and had no issues!

There are rules to follow!

Back 60 years ago the rental industry's rules were very much different from today for my grandpa. 2 generations later,  now im learning to own property with its success in mind.