It's always someone else's fault that a person has any deficiency, NEVER peoples own fault for how they live. 

My husband and I don't currently live in the house, so no sharing haha. 

Tax treatment on short term stuff is an issue. 

Well then how am I going to rent the rooms out of the property while I live there?

I think the #1 most ridiculous poster is the person living in a desirable, high-appreciation location who has plenty of capital to deploy who asks which crappy undesirable market thousands of miles from where they live is the best place to buy their first investment property.

The issue at hand is that you and your husband must have the intent to hold the replacement property for rental, investment or business use in order for it to qualify for tax-deferred exchange treatment. 

I am about to 1031 exchange an investment property for another but I did live in this property 1 out of the last 5 years.

This strategy leverages your equity to expand your real estate portfolio while potentially benefiting from appreciation and rental income.House Hacking:Use your equity to purchase a multi-unit property (like a duplex or triplex) where you can live in one unit and rent out the others.

You need to ensure the work is done professionally to maintain a safe living space.

I've been living in the house over a year so I have the option to be the GC.