I am a financial planner.

NEW YORK REAL ESTATE INVESTOR MEETUP (LONG ISLAND, NEW YORK )LOCATION: 50 Jericho Quadrangle, Suite 210 | Jericho, NY 11753All investors small or big, new or seasoned should join our group and attend our free event on May 20th at 11 am.

Depending on the valuation, Replacement Cost or Actual Cash Value, you could run into issues with coinsurance in the event of a loss.

Every "financial planner" I talk to knows less than me about property investment and analysis.

An ironclad contract should protect your interests in the event things do not go as planned.

You make your money when you buy...you realize your profit when you exercise your exit strategy down the road.If you do anything now, rationalizing on future events you have no control over, that will recover your loss (overpay) at purchase, you lose.  

go to every single kid's event that you can...create other opportunities to be with them (away from the internet/games/tv). 

We have an event coming up in April at HD HQ.Look forward to connecting with you here on BP.Good Luck

That said, I'm not a financial planner and I have no idea if there is some other way to defer taxes on this account.

No longer living in the property as your primary residence is considered a payoff event (like death of the borrower).