Is there some other set of circumstances I am not thinking of?

So under normal circumstances if they had sold for 241k they would have broke even not considering interest paid.

You may need extenuating circumstances to purchase another property with another FHA loan.As far as renting or selling it depends on your goals and your numbers.

In this circumstance, if you directly pay your own health insurance premiums, you can take a deduction on the 1st page of the 1040 for "self employed health insurance".

. :)The deal with the 100 mile rule is only applicable if deriving rental income from the departing residence is needed to make the numbers work.VA - will count departing residence rental income once you've got landlord experience.FHA - will count departing residence rental income in very rare circumstances that aren't applicable to most people. 

But it is going to depend on the circumstances of the deal and your financial picture.Try James Dix at Amerifirst Home Mortgage.

We're thinking small multifamily (2-4 but maybe up to 6 in the right circumstances) are most likely to make economic sense. 

In April due to life circumstance I bought out my last remaining partner and now am a 100% shareholder but am in the process of dissolving the LLC and doing a quit claim deed to transfer title to my name.Question # 1 does a quit claim deed from a LLC to a personal holder of title affect the 1031 if it is done prior to closing (even though the quit claim deed was filed during escrow)I am trying to purchase a property with the "intent as a rental" though (in over 2 years) we may choose to do a "conversion" into a primary residence and definitely plan to keep the new property longer than 5 years.Question # 2 does the new 2018 tax law have any bearings on this plan.  

I wouldn't begrudge someone keeping quiet about having an unusually vast amount of money for their circumstances.

Seeing as a subset of the population will always neglect property, not budget for expenses and inevitably fall on hard times I cannot imagine there will be no deals to be found.