Originally posted by @Denise Evans Evans:@Anastasia Jordan, the property must be on the state inventory for at least five years.

In 2020 I took advantage of the low interest rates and got our primary home down to a 3.2% interest rate from its original 4.5% in 2013.

@Joseph Chacko vellukunnel FYI if these are older mobile homes with the original roofs you will have floor issues, yes floor issues.

I’m *thinking* that if I start renting my original property this year and move to the new house as a primary, those repairs can be deducted?

As a side note,  it doesn't seem like the margins are very good if you are spending $450,000 on the hard construction, still have carrying costs (debt service/loan origination, taxes, builders risk insurance and general liability) and have to include the subdivided parcel which presumably decreases the value of your current home.

Originally posted by @Ria Lamb:Three years ago, my husband and I did a 1031 tax exchange for a rental property.

Completely renovated from the ground up in 2016, this home boasts fully restored original heart of pine floors.

The original lease was provided by the Real Estate company who listed our place for rent and secured my tenants. 

Originally posted by @Amanda Gisonni:If you don't have a website yet, it is not a big deal. 

The original owner has a ton of exemptions so she only pays $400/ year on property taxes.