It would be owner occupied (by me) indefinitely and I can rent or sell for a profit in the future.Questions on what I have proposed:1.

@Brenna McKenzie I believe what you're doing is a good idea, to watch and see how things shape up over the years and find a good time frame to jump in. Definitely

Seems ridiculous landlords are left holding the bag with no recourse at all indefinitely. 

But by following the process of the 1031 you get to indefinitely defer payment of that tax and/or depreciation recapture.  

Thanks @Dustin Lauer working with a experienced investor in definitely an option. 

However, if you spend it on a tangible cash flowing asset you become the bank and it will pay you indefinitely.

So the irrevocable trust could continue to defer that tax by 1031ing into a DST and continue that path indefinitely. 

So the 2 year lease transforms into: indefinite. 

(Some documents need to held indefinitely such as mortgage contracts and depreciation tables, etc.)7.

The good:His credit report shows zero missed paymentsHis girlfriend's father is our handyman and one of his previous landlordsHe has been at his job since 2006The bad:He already asked to use some of the storage space to store gear for his hobbiesHe just took out a loan for 105k for a boat (also 10k owed on car, makes 50k/yr)He asked to store the boat on the propertySo far I have said ok to storing the gear, but need to establish some ground rules (looking for advice here too).