If the purchase is done in cash, as you mentioned, they’d have more flexibility, but they’ll still want to carefully consider the tax and legal implications of the subsequent sales.I hope this helps, and good luck with your client’s deal!

People claim that 1031 investors over pay all the time just to avoid taxes.  

If your bottom line numbers on tax returns and W2 income are not strong however, this will be an abrupt dead end.

Personal Financial Statement Borrower’s Schedule of Real Estate – or- Resume illustrating experience2-3yrs Personal & Property Tax Returns – All schedulesPrevious Year and YTD Property Profit & Loss statement w/ detailed expensesRent Roll w/ detailed lease informationCopies of all Leases3mo.

The 1031 exchange will indefinitely defer all tax on profit and all depreciation recapture.

Are there any fees/taxes associated with AL licenses?

If not, what are property tax sales? 

I have family in Houston, Dallas, and the Valley, I was networking with brokers in San Antonio, but the Taxes seem to be quite high as well in that State, although much favorable laws/regs on the landlord side.

How much money, after expenses and taxes would he property make yearly?

When you live in that duplex for 2 years and then sell you'll be able to take 50% of the profit tax free (the allocation for the side you lived in).