I recently purchased a 2 unit property as owner occupied with one unit already rented out. 3 months after closing, I was laid off due to a restructure at my company, so I decided to rent out the other unit my girlfriend and I planned to live in.

I read about a 1091 exchange and if i reinvest my money into another property within 6 months then ill avoid paying the taxes on it. is this a good plan, if not do you have any other suggestions.  

They are holding the proceeds from my sale and I am planning to buy a couple of DSTs shortly.

This property is in shenandoah valley, so my plan is to findout from the local county office/health dept.

Make sure you check the local ordinances / zoning and talk to the local administrator to see if you can do what you are planning.

@Bryan Zayac  In PA, there is a state document called the Municipal Planning Code MPC. 

While I don't believe that you need a full blown business plan, strict operational budget, timeline, scrum board, etc...

., HVAC tune-up, plumbing fixes)Deep clean entire property pre-listingEstimated Cost: $5,000Total Estimated Renovation Cost: $145,000Project TimelineWeek 1-2: Planning and DemolitionFinalize design and materialsObtain necessary permitsBegin demolition (kitchen, bathrooms, floors)Week 3-5: Structural and Major InstallationsInstall new cabinets and countertops in kitchenComplete bathroom tiling and vanity installationRefinish or replace flooringWeek 6-7: Painting and FixturesPaint interior and exteriorInstall lighting, hardware, and plumbing fixturesWeek 8: Finishing TouchesLandscaping and curb appeal updatesDeep cleaning and stagingTotal Timeline: 8 Weeks*This link comes directly from our calculators, based on information input by the member who posted.

@Trace P. again, why would the government logically spend YOUR tax dollars paying more than market rent for an S8 tenant?

I have a goal of being able to spend time with my daughter and family.