Hey Edward, can I ask you a question about 1031 exchange, vesting title, etc...

We learned the importance of precise budgeting, as managing $30,000 in renovations required careful oversight.

The main challenge was ensuring a smooth transaction, which required precise coordination and efficient execution.

We learned the importance of precise budgeting, as we managed $42,000 in renovations.

I have purchased 3 properties through them during a 1031 exchange.

Still, even breakeven with nothing down is quite an achievement IF you’re NOT paying an over market price in exchange for the owner financing of what would normally be your down payment.  

Or deals that had fallen through and the seller was willing to take 30k less in exchange for a no contingency offer.

The biggest advice I can give you is to figure out your own goals, and be specific, so I want to invest in multi family for cash flow for instance is too broad, is your goal to have an investment or a place you enjoy living, those are often in conflict as most multi family tends not to be in the most desirable parts of towns, are you willing to high cash flow in exchange for alot more effort, risk and limited appreciation, or do you want a more stable property with potentially less or even zero cash flow, if it’s a primary residence, are you going to live there long enough to make it more sense than renting, the breakeven period in a place like Baltimore might be 3-5 years.

If I sell it in 1031 exchange, can I then get another rental, rent it out for 2 year and then make it my primary residence i.e. homestead and that way avoid any depreciation recapture and capital gains?

Just wondering if that is the only way to sell a property and not have to pay any depreciation recapture. Thanks in advance.