Louis that was my primary residence that I turned in to a rental.

Is this their primary residence, with good jobs nearby, or is it a second home for them, because they like to spend time in this "premier location?" 

Phil:Have a look at the Canada Mortgage and Housing Corporation (CMHC) offerings for immigrants (and residents).

I am Foreclosure Subject Matter Expert with a major bank and an individual who buys single family residences (in Virginia ) for personal use.

I recently blogged about the very same topic:   https://www.biggerpockets.com/blogs/8070/51438-the...This is what I wrote:"Hunting for your next deal or residence?

We currently have 5 single family homes, one being our current residence.

Thus far, I only have my primary  residence that I bought in 2011; currently I am holding so much equity in the property and no I am ready to unleash it and purchasing new rentals. 

I am new to Real Estate.I am currently overwhelmed with the options available and which step I should take first.I am an entrepreneur and Accountant and all I keep thinking is "what's the problem so I can present a solution?"

Are there any solutions I am missing here, or is this just a side effect of the 1031?  

So far I have only bought my primary residence.