@Tony Spinnato  defining something a "warzone" is like defining a girl "pretty" or a guy as "handsome". 

@Jacquelyn Swint first know what your goals are for how you define a good deal.

I'll definately look to get more involved on the site.

Owner unit is basement (as defined by NYC Housing regulations) and 1st floor and is 2 bed 1 1/2 bath, rental is 2nd and 3rd floor, 3 bed, 3 bath.It is a legal 2 family as shown on NYC ACRIS system, so I think it would qualify as what you have termed as split use, so from my original example, lets keep it simple and say:1. 500k current mortgage AND original purchase price, just to keep these simple2. sell for 1.5M = 1M profit (less closing costs, agent commission, and other fees, but again, keep it simple)Could I take 500k cash out on the 121 exclusion, then put the other 500k + new 500k mortgage into the 1031?

I'm planning to build upon my experience gained as an Architect with over 25 years of experience, and define a new path in my architectural practice.  

But I find that the action through courage also builds strength and character. 

What worked for me was getting down and dirty in understanding the market (risk) and defining what a good deal looks like (opportunity).

@Joshua McGinnis A big piece of getting propoerties that are under contract quickly sold to an investor is defining before hand and having documented details of the specfic buying criteria of your qualified list of buyers. 

In a Probate filing, is there a defining difference between a petitioner that files and a successor that files.  

The first thing you want to do is define your investment goals and criteria.