Hi @Steve Morris, The requirement under the Treasury Regulations for 1031 Exchange transactions is that all of the parties be notified that the taxpayer is completing a 1031 Exchange. 

We are already seeing big regulation on housing done in California, Washington and other larger cities/states.

Are you sure you can convert it back based on current regulations? 

I have no problem with a company that makes compliance easier on hosts, who should always be vigilant to act in compliance with local regulations.

Unfortunately, each state has its own laws and regulations that govern when an eviction can take place, so what is applicable in Texas, for example, might not work in California.

But who knows what the market will do in the future - I don't think things will climb like they did before due to the government regulations, but who knows.I just hate the idea of all that equity sitting around in the property and not doing anything with it.I should mention that if purchasing a 2nd income property would only be slightly better on paper over paying off the existing mortgage, that I'd prefer to pay off the mortgage as it's less stress, and I have medical issues so I like to live as stress-free as possible.Thank you guys - BiggerPockets was the main reason I purchased the first property.

It didn't cash flow for the first two years (~$150/month), but the appreciation is awesome.With condos you are trading off building/outside maintenance for HOA fees + regulation.

Exact information we don't have, as well as difference in state real estate laws and regulations might result in bad advice.  

I am asking this because, where I live, this is not an issue and I am not quite sure how to deal with this properly and how are the regulations in Detroit for this specific issue in terms of who should pay for this.Also, if anyone could recommend a pest control service in the area for this and/or how much they normally cost, it would be much appreciated.Thanks to all!

If the policy contains the following:‘‘This policy meets thedefinition of private flood insurancecontained in 42 U.S.C. 4012a(b)(7) andthe corresponding regulation.’’