But now it's taken a long time for a reply again on the most recent properties we've inquired about.  

Also, I'm afraid of what may happen when this record bull market finally "corrects".

Is that correct?

@Mindy Jensen Thank you for your reply, I asked because I am under the impression that foreign rental income is still taxed as part of your income in the US.

Based on the proforma financials, the 50 unit shows a vacancy and credit loss projection of 10% and the 80 unit shows a vacancy and credit loss projection of 8% - so 90% occupancy on 50 unit and 92% occupancy on 80 unit if I'm reading correctly.

Thanks for the replies.  

My wife says I've already had my quota of wrongness for the day so I must be correct here:)Of course the rules of sec 121(the section dealing with your primary residence) do not require a 1031 exchange. 

Hi Dawn and thanx for the reply.

You are correct in that you cannot go wrong with Hershey market in Central, PA. 

I'm pretty concerned about market prices right now, but I also don't want to wait indefinitely for a market correction.