By all means call the seller and find out what they need from you to carry back some or all of the purchase price.

Any or all three of these factors can and do take place on a daily basis.

So, to answer your question, if you buy a replacement property that has a purchase value equal to the property you sold, and you bring on a co-investor, yes you will recognize some or all of your tax liabilities because you have not exchanged equal or up in value.So, for example, let's say that you sold your relinquished property for $525,000 and your routine selling expenses were $25,000 so that you have a net sale price of $500,000.

To be valid the units would need to be disbursed amongst independent variables, they could not all be located in one geographic area for example as one occurrence may effect a large number of units or all of them, like a tornado or flood.

Housing demand has also allowed landlords to demand higher rents.The combination of low rates and higher available rent means it’s possible that part or all of your mortgage payment can be paid for by a renter.

Analyse the property both with yourself paying market rent - to see how well it cash-flows as a pure rental (look for 8-12%) - and with just the rented half bringing in revenue - to see if it can carry most, or all, your operating costs.If your immediate goal is to live for free while building equity and saving for more properties, have a look at triplexs or quadraplexes as well ... the smaller your non-producing portion of the property, the better chance you have of living free or even making a little positive cash flow.

You could “finance” some or all of the investment with equity or debt provided it makes sense and you can sell your investors on it.

One major roof repair, a couple hot water heaters, one HVAC unit and you've wiped out most or all of your reserves.

On the financial side, I would ask for a provision to defer part or all the monthly payments until the property can sustain the monthly payment comfortably.  

The seller in this scenario may have lawful options to mitigate the impact of the $30K on some or all of his benefits.