I’m looking to scale up my portfolio this year by 1031 exchanging or plain selling my single unit portfolio for a multifamily 10+ units. 

Looking at the math problem, when you sell your second home you will net (820 minus 480) $340K.

We are thinking about selling it and investing in Tampa through a 1031 Exchange.

Hello, I am looking for ways to sell a totally fire-damaged property in a C class area.

You're actively doing something, selling houses or shoes, and that generates income.

You are in the business of selling insurance it's a tough business I get it but preaching IBC gets old really fast. 

If it goes well, the home title can be transferred to an LLC, and we can sell the property or rent it.

Many properties may sell near asking price, but some may sell for well UNDER asking price.

Loans secured by two- to four-unit properties, investment properties, or second homes are not eligible. https://selling-guide.fanniemae.com/Selling-Guide/Originatio...However, there is NOT a state law against it but because of the above most lenders even if they are not selling to Fannie/Freddie do not allow it.

You literally CAN'T sell for at least 3-5 years because you wouldn't have enough to pay the fees associated with selling a conventional way, nor would it have been worth it for you to do so.