We managed to navigate it, but it was a lesson in the importance of understanding both federal and state regulations.Given your location in Boston, Massachusetts, it's especially pertinent to consult with a qualified intermediary or tax professional familiar with both federal and Massachusetts state laws to ensure a smooth exchange process.

Although Philadelphia is only requiring you to get General Liabilty, I think you have a bigger exposure to Professional Liability (E&O) insurance. 

Readers should seek professional advice.

If you’re even mildly considering making a move, maybe swapping a dusty single-family rental for a sleek multi-unit or a small retail corner, I’m telling you, a 1031 is worth exploring.

@Richard Schubert are you having these professionally inspected before you buy them?

I'm not a real estate professional in the IRS sense, so if I take money out of my real estate investments as profit, I'm paying ordinary income.

The search button is also helpful for finding local investors, other RE professionals, and past discussions.All the best!

Lot less multifamily which is why I haven't bought but it is where I grew up.Make sure you study the eviction laws, I believe tioga County (but could be a different close county im not sure) my lawyer told me that you now HAVE to pay to pack up an evicted tenant professionally and store it for months at your own cost if they leave their stuff behind.

Another option is to explore private lenders or HELOCs to cover the equity.

Health professionals are generally looking for 1-2 bedrooms and even travelers in other professions look for that size unit.