I understand that in NJ you can vacant a 1-3 unit home upon your move in date by stating that you intend to move in. How is your move in defined or tracked? What is the minimum time you have to live there? A year?
Say...

The SEC is currently working on rules to implement and allow crowdfunding.

The smaller family (and original tribe chairman) went to state court, which ruled it was a tribal issue since they were on soverign ground.

Allen - not my place to judge but you are breaking the first rule of RE; Do not get emotionally connected to a home.

Anyone have a link to a site that spells out 1031 Exchange rules more plainly than the IRC?

Am closing on an REO from BofA next week and in contract on another property that is a short sale own by BofA.My question is do you know if BofA have any rules or limit to the number of properties one can purchase from them within a giving time and the reason am asking is because they are the only bank that ask for social security number when you make offers.

Some of this seems common sense, some seems like you gotta follow the rules, regardless of if it makes sense, and some things there just isn't a consensus on, and only an audit or possibly an IRS "opinion/permission" letter will clear it up.Thanks to everyone for your' posts.

The 1031 rules will apply from the date of ownership and your residency.

Although this is not the first flip where I have to deal with this, I find that dealing with this rule keeps on changing.

-Steven the Tax GuyYour guide to IRS laws, rules and regulations.