This would help to limit your emotions because your money is on the line.

This strategy would only exclude any capital gain up to the $250/$500K limitation and any depreciation recapture would be recognized. 1031 Exchange into Rental Property and then to Primary ResidenceAn investor owns rental property that he/she sells and 1031 exchanges into other rental property and after renting the newly acquired rental property for 12 to 18 months (in order to demonstate intent to hold for investment) converts it to his/her primary residence by moving into it and lives in it for 24 months (minimum, in order to satisfy the 121 exclusion requirements of living in it as a primary residence for 24 months out of the last 60 months).

Isn't there a gift tax issue with this since it's over the 11k a year limit a person can recieve?

There is a name for that concept: Limited Partnership.The limited partners just put up money.

Don't most credit cards give credit limits related to your credit score.

Try to find subleasing.There are people who want to rent for a limited time.Check out craigslist.org rental section.sam12Good luck

They are also willing to carry a note maybe enough for the down payment and a bit of fix up money but only short term.My credit situation kind of stinks I’ve always paid cash for everything and I have only limited credit and two outstanding bills leave me with a 604 credit score, not good.

Each property would be owned by a Limited Liability Partnership created in the US.

There is no "time limit" as to ownership of the Lancaster Condominium Units.

Based on what you're saying you're limitations are, I don't know how much trust I would put in the internet......I like the idea of being able to put a thumb on someone responsible for positive results.