I’m hoping BP can connect me with:  - A local expert (attorney, accountant, or financial planner) who could assess our specific situation and options and tax implications of eventually selling the investment townhouse—reconverting it to a primary residence to reset the capital gains exemption, 1031 exchange to the area where we plan to retire, etc

These are the rough numbers on it.Worth $195,000 in as is conditionSeller owes $167K plus $4K in arrearsPITI is $1352/monthTaxes are 3783 a year with no current exemptions on them 28 years left on the noteSeller wants about $5K to walk.  

Advertising that you provide 8 to 12% ROI on JV is definitely a solicitation on a security.You can pay $60,000 and get a Reg D Rule 506 private placement exemption.

I would just caution you to make sure your numbers still work on your first duplex as your mortgage will be larger, interest rates have gone up a bit, and you will lose your homestead exemption on your first duplex when you move to your new duplex.    

There are exemptions for certain owners (e.g. military, senior etc). 

The mayor wanted Mission Beach excluded from the regulations and submitted a plan that would exempt MB, but he was ignored.

And, fortunately for me, in NC both of these contracts would involve exempt transactions.

More detailed overview coming soon, but some quick details...When: rules become effective in 60 days.What: There are 2 "tiers"Tier 1 - requires SEC and state blue sky reviews & fees, raise up to $20M per year, open to unaccredited investors, no audit requiredTier 2 - requires SEC review but no state blue-sky review ("preemption"), raise up to $50M per year, also open to unaccredited investors (limited to the greater of 10% of income or net worth), annual audit required, must use a registered transfer agent (FundAmerica will be helping to simplify this for issuers)Both - are open to unaccredited investors, can be used by startups as well as existing businesses, and are exempt from 12(g) registration thresholdsHow: Preprare offering doc's, get your audit done, use "form 8a short-form", submit draft offering to SEC, filing electronically via EDGARCompare to 506(c) - takes way more time to launch an offering, and far more costly in terms of legal fees, accounting costs, and annual reporting obligations.

I was referring to originating loans and seller carry backs... some are exempt others are not.. its state specific and most coach's and gurus talk in General terms that may or may not be relevant for where your student resides.that's all I was pointing out...these folks  DF and Safe act absolutely impact the private investor who is doing any volume.. in some states not so much in others it moves you to the status of NMLS or RE broker like CA.

So, although the money from the initial cash-out refi isn't taxable (because it's a loan and not income), you also don't get to claim some sort of tax exemption when you pay it back or exclude it from the overall capital gains.