Federal regulations don't allow non-public personal information to be shared with non-qualified businesses. 

Which would be taxable event, plus penalties if you pull distribution prior to normal retirement age.Much better alternative is to invest inside of your self-directed Roth IRA, focus on maximizing the returns and then enjoy tax-free income after 59 1/2. 

My CPA files state & federal taxes.

But 1031 is a federal statute that is applied the same nationwide. 

You want to say that is a return of what you spent in capital improvements which would not be taxable (and I agree with you). 

It will be difficult to replace a full time w2's income in 4-5 years unless you have a lot of assets to throw at the project or unless you are in a very friendly investor market.The formula should look something like this:Gross investment income per month - expenses (mgt/taxes/ins/maint/assumed vacancies)= Net business revenue to you on 1099/w2 - real personal business expenses/deductions= net taxable revenue (outside of personal deductions)If the final net taxable revenue matches your teachers salary then you are good.

The state and federal government look at investment properties the way that they are correctly structured which is a business not just an asset.

Here's the Federal Reserve Chart so you can see exactly what I'm talking about (gray areas are "official" recessionary periods).It's really cool to read everyone's sentiment and thanks to everyone for sharing your opinion. 

I wouldn't worry about location.  1031 is a federal statute so it's practiced the same everywhere. 

I wouldn't worry about location. 1031 is a federal statute so it's practiced the same everywhere.