So, if you have a duplex where each unit has exactly the same square footage, and you live in one and rent the other out, then 50% would qualify for the 121 Exclusion and 50% would qualify for 1031 Exchange treatment.

Or, two, the property is held for rental or investment or use in a business and they qualify for 1031 Exchange treatment.

One gets "preferred" treatment (a pet) vs the one in the protected class does not.I only say that because Bill had conceded that he would allow them a pet after the fact so he obviously doesn't have a hard and fast rule against pets.

I have never heard treatment costing even a tenth that much.Feedback and help to solve this for less money appreciated.

So far, we've made it a point to invest in improvements that will increase the value of both units (like a new driveway, new porches which were formerly eye sores, etc).

The podcast was #29: http://www.biggerpockets.com/renewsblog/2013/08/01/bp-podcast-029-peer-to-peer-fix-hold-dawn/ @Yang Xiao It was 174500, 3080 sq ft, rent ready with window treatments, towel holders, and landscaping.

Another highly visible feature is your window treatment and lamp shade choices.

@Gary Parker The seller could have (an almost) correct understanding of the tax treatment, but because we don't know how much of the $92K contract price is depreciation recapture and how much is long term capital gain due to appreciation, we can't really give you a definitive answer.

Looks like a termite treatment or multiple treatments.

Some may want newer houses so re-wiring or new HVAC won't be an issue.