I’m thrilled to join this community and connect with fellow real estate enthusiasts.

I recently learned that if you owner occupy a residence for part of the 5 previous years before sale, and you rent it for the remaining time, you can calculate the percentage of time the property was owner-occupied (and thus qualifies for the sec. 121 primary sales tax exemption of up to $250k for single filers) vs the time it was being rented (which qualifies for 1031 exchange) and claim both benefits. https://hcsequity.com/blog/combining-1031-exchange-with-121-....How does this work for a multi-family?

Would a property like this be better suited for long-term or short-term rentals in your experience?

I suggest having this conversation with an attorney.

This month we'll answer your questions and hear from a property manager who has made it work!

This question has come up a few times with prospective clients recently, so I thought I'd shed some light on it.Generally, being an employee in a real estate business does not automatically qualify you for REPS unless you own at least 5% of the employer.

How would I go about acquiring this property?

This is the best place for all things real estate related.

I'm excited to be a part of this community and would love to connect with others in the CT area.

Is there a specific one for this situation?