You may qualify based on Market Rents or Lease Agreement.

It is a very competitive market and units in the tens of thousands.

However, purchasing the replacement property from an estate where your mother-in-law is the executor and other heirs are your wife's aunts and cousins raises potential related-party concerns under Section 1031(f).The IRS generally prohibits 1031 exchanges between related parties unless both the buyer and seller hold their respective properties for at least two years after the exchange.To stay compliant and avoid disqualification, ensure:The estate sells the property directly before any distributions to heirs.You hold the replacement property for at least two years.The transaction is conducted at fair market value with no prearranged agreements.Given the IRS scrutiny of related-party 1031 exchanges, consult a qualified CPA or 1031 exchange accommodator to structure the deal properly and avoid potential capital gains tax liabilities.This post does not create a CPA-Client relationship.

It's not like other markets where all info is online and everything is super fast and easy.

It’s not necessarily more difficult than market-rate rentals, just different.If you’re seriously considering this route, feel free to reach out.

It's one of the hottest markets in the US right now with so much population growth, job growth, and companies moving/developing here (26B Intel headquarters being built here, 68K+ enrollment in Ohio State University, Amazon, FB, Google, Honda, Nationwide, Anduril, etc.).

I will research my market to find out what's required for my state.

I don't know how much you have but a build to rent triplex all in our market is 150k liquid normally with full return of capital in 9 months.

In the 2024 insurance market, CA is hard to place, so even though you could force them onto a single policy, it may be more economical to keep them separate.I'll send you a note with the carriers who can do this for you.

With that kind of equity you would be to find a newer, nicely performing Quad in a market that is appreciating.