I figure out how to have affordable rehab despite the shortage of workers that is being ignored-what else do I need?

(It's amazing how many people ignore or miss "NO PETS" or "NO SMOKING" or even the amount of rent/utilities, etc.)

Thank god I was too ignorant to think things through or I might not have done it.

And ignore the seller's listed price @Reggie Rearden Your offer will be from your numbers, not the seller's disillusions. 

However, you should be careful with how soon you move into the property after completing the exchange; otherwise, you risk invalidating the exchange.A 1031 is deferring the taxes - not eliminating them (putting aside proper estate planning and you holding the property until you die).Accurately working through these types of scenarios can be tricky because of all the moving parts - ie, recapturing depreciation, adjusting the cost basis, whether you owned the property prior to 2009, etc.However, if we generalize this and ignore the tricky parts for the time being, you could have this scenario play out like this:- buy property A in 2010 for $500k- sell property A in 2020 for $1M and exchange into property B (deferring $500k of profit)- rent property B for 1 yr and then move into it as primary residence- sell property B for $1.5M in 2030 (another $500k of profit)To figure out your taxes, you'd be looking at:- a total of $1M in capital gains ($500k from sale of prop A and $500k from sale of prop B)- you owned props A and B for a total of 20 yrs - 9 of which were as your primary residence (45%)- this limits your potential primary residence exclusion to $450k ($1M x .45)- since you're married filing jointly, you can exclude the entire $450k (but not the max of $500k)- the remaining $550k would be treated as long term cap gainsAgain, this is very generalized and not meant to be an accurate calculation, but hopefully gives you an idea of how the numbers might work out.Best advice any of us can give you here = consult with your tax professional :)Good luck,- Brian

The general public and willfully ignorant politicians have that in mind as the rule, not the exception to the rule storm.

Ignore the 1% "rule", you're looking for overall return, not some random metric created by a "guru" trying to sell books.

Lenders ignore (add back) depreciation, so it does not hurt your loan eligibility.There're some advanced tax preparation techniques to delay some deductions and show higher income.

I'm thankful every day I ignored all those telling me not to do it.

I can’t feign ignorance once a fact is brought to my attention .