I bought $190k-$195k worth of equity for $158k.My original plan was to get transactional experience while making a little bit of money.

The Sec 121 exemption requires that you have lived in the prop for at least 24 out of the 60 months prior to selling and have owned the prop for at least five years in total (because you bought it through a 1031).

My dad built one of those Home Depot sheds at the first duplex he bought and I remember going back to that thing all the time as a kid to get stuff.

We bought that one, $125k, well under value, with no mention of commissions. 

We sold in CA and bought in AZ but live in CO.

. :)  $50k sounds awfully high of a profit. you'd think there would be more higher offers when you bought with that much spread. 

Currently living in Germany on a 3 year job assignment for my husband but we just bought our 9th property...this one in Lisle,  the rest in Naperville.

. - When we bought our current home two years ago, it was $130,000 with a 3.75% Interest rate. 

If I state that I want to receive gold/silver in lieu of the USD do I still pay tax on the proceeds of the sale?

It was a single-family I bought at a good time (2010) and I was banking on appreciation.