Owners just can't do doubling of the HOA fee just like taxpayers won't vote for politicians who ask to double the tax rate in one year.

Proceeds from sale are held in Deferred Sales Trust (arms' length distance from taxpayer). 

If your project is a partnership then the partnership has to do the exchange you cannot just exchange your 50% because the 1031 has to be the sale of real estate by the tax payer. 

I am not exactly sure how the insurance and tax payments would work.I realize with a deed of trust it's really easy to have any number of third party note servicers hold escrow, and ensure insurance and taxes are paid. 

There is no statute of limitations on a return tax year in which the taxpayer failed to file a return. 

Hi @Rahul Handa - you'd have to live in it for 2 out of the past 5 years in order to exclude a portion of the gain ... a single tax payer can exclude up to $250k, married couple up to $500k (Section 121 of the tax code).The tax you'd pay if your gain goes beyond those limits will depend on the state the property is in and your personal tax bracket. 

These purchases would be through LLCs that vary from 2-4 members each.My *understanding* is that a 'taxpayer' can deduct up to 25K of passive losses IF there income is below 100K and then phased out up to 150K.Questions are; 1) Is that 100K level for single or married filers?

Keep in mind that only certain types of taxpayers can hold stock in S Corp.

(Late in rent payments multi times and not paying late fees, Incomplete tax payments...) 

Whether that matters to you or not is another issue.An S Corp is designed to minimize SE taxes based on "reasonable compensation", which will vary for each and every taxpayer.