Based on the statutes, the legislative history, and the case law, the following 7 essential elements will help guide you when working with your lawyer and administrator. 1.Third Party Administrator (TPA) – I use Trust-CFO as my firms third party administrator for my CA clients with PRPs. 2.Qualified diagnosis by the TPA to determine if you even qualify3.Asset exemption analysis by the TPA to determine which of your assets are eligible for exemption4.Funding analysis based on income, age, and retirement needs5.Plan documentation and funding of plan – this is a critical step often overlooked or not done correctly.

Hi Dustin,     In my opinion, based on your big picture goal, It may be more effective to hold onto it until you meet the bank's eligibility criteria and then sell it while the market is still extremely hot with very low inventory (especially in Worcester!)

Your bid would have to exceed $300K.To be an “Eligible Tenant Buyer” you must occupy the property as your primary residence at the time of the sale, with a proper lease dated before the NOD was recorded, and you cannot be a member of the borrower’s family.

I went through your other posts here on biggerpockets, it appears that you have tax related questions throughout the year such as selling a primary residence that you lived in less than 2 years.You may want to see if you are eligible to claim partial exemption.When selecting an accountant, make sure you select someone who will be able to answer your questions.

I remember the early 2000's and there are a lot of 'pre construction' projects that never came to fruition..not suggesting not to invest there just dive deeper into fundamentals.

Interested in flipping a home that would qualify based on HERS rating + energy savings and would like to partner with a lender to market the property as eligible for EEM.

More about this in IRS 523Even if you qualify to exclude part of the cap gain under Sec 121 you are still required to pay Depreciation Recapture on sale (not the case with 1031 Exchange)1031 ExchangeOnly rentals are eligible for a 1031 Exchange - this is good news for you.

Thanks for reply @Gino Barbaro  Cheap capital and debt, Introduction of new and awesome tech and an abnormally exceptional market has definitely obscured basic management fundamentals. 

Marshall,If you do plan on leasing to the new business (craft & tanning), you should check with your Insurance agent to see if that will still be eligible for your current coverage. 

If the answer to all three is Yes, I buy.And let life unfold.I have NO IDEA what the ultimate return will be….NONE….And neither does any other investor if they are honest…..most crystal balls I find are broken.But if one acquires the property is a solid long term manner based on fundamental investing principles and is never forced to sell…History indicates the long term trajectory of price and rents are up.In my experience, real estate follows cycles……. 6 or 7 years of a bull market, 1 or 2 years down (though the up is always larger than the down), 1 or 2 years of flat which then sets the floor for the next run up.