Find out vacancy, duration and renter profile.

For example, if you live for 20 yrs after moving in, then 50% of the long term capital gains will be avoided (because both rental and owner occupied durations were equal).Just remember than uncle scam is smarter than everyone.

Document the business activities conducted during the trips and their relevance to your rental property business.Limitations on Duration of Stay:If your trip is primarily personal with only a minor business component, it might not qualify for certain tax deductions.

After that, you can no longer take depreciation deductions.Not Applicable to Personal Residences: Depreciation is generally not available for your primary residence; it is meant for income-producing properties like rental homes or commercial real estate.Now, onto the 1031 exchange:1031 Exchange Duration and Considerations:A 1031 exchange is a powerful strategy for deferring capital gains taxes, but it's not indefinite.

They are lending me $45k, 5 year note @8%, interest only payments for the duration, lump sum due at the end.

Add it all up and amortize it over the duration.

Shorter durations could result in not enough benefit to cover selling costs.  

Considering the short duration of his tenancy and the newness of the rehab, it would be hard to place this burden on the tenant's shoulders legally or morally.

That means that only a lease signed for a duration of above a year could apply to honoring the lease.

Here, a long term tenant is defined as a tenancy >5-yrs in duration and in such a situation we must provide 3-months notice of termination.Check the tenancy law in your jurisdiction to see if there are additional right for a long-term tenant, and service notice when you are ready.