Any kind of real estate qualifies and it can be in any state.

One issue is the challenge of qualifying, as conventional loans will have DTI requirements, income requirements, loan size limits, and loan amount limits that investors looking to scale a portfolio run into as soon as the financial freedom snowball starts rolling.

I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.7.

Given the complexity and potential tax-saving opportunities in real estate, it's wise to consider hiring a CPA with expertise in this field.Many clients who work with non-specialists find that their non-real estate preparers lack the specific knowledge to help them minimize taxes through strategies like depreciation, the de minimis safe harbor, partial asset dispositions, 1031 exchanges, navigating real estate professional status, the short-term rental loophole, and more.If you are looking to qualify as a real estate professional, use the short-term rental strategy, or complete a 1031 exchange, I would without a doubt recommend working with a real estate CPA.

If you are not planning on living there too, you would only be able to offer a gift to that person and you would likely not qualify as an eligible gift donor unless you are closely blood related. 

All in One is great and probably the best for a highly qualified borrower.

Does it still qualify for the exclusion? 

You must use the services of an unrelated 3rd party called the qualified intermediary.

Bonus Depreciation Under current tax law, 100% bonus depreciation is available for qualifying property—whether new or used—acquired after September 27, 2017.

They should also educate sellers’ brokers on their fiduciary duty to their sellers to vet buyers who don’t want representation and show houses to the qualified ones.