If you want to defer all tax like you have to do two things - purchase at least as much as your net sale (contract minus closing costs) and you have to use all of your proceeds in the next purchase or purchases.As @David M. says (Mr Foster is my dad by the way David :). you can purchase less than you sell and you can take cash out but when you do that the IRS interprets that as taking profit first. 

Obviously, that leaves a lot open for interpretation, but that should really be their main objective.

If what you interpreted is correct, have your attorney contact Section 8. 

With that background, the interpretation of the conditional use is what often causes confusion.

I will tell you though that in general the interpretation of the inspection report, for the most part is up to you. 

That could lead to any unfavorable interpretation by a judge.

I advise for literally hundreds and thousands of MN rental units, I have a legal compliance department and offices who's sole job is to read, interpret these laws and communicate with the government bodies directly.

My interpretation of today's conversation is that he is implicitly letting me know he will not honour full term of the lease (two-year).

If you're reluctant to surpass putting 50% of your savings into a deal (let me know if I am interpreting that incorrectly), I think the why behind that is important in answering your question.

The judge gave her an extension and scheduled an interpreter.