Yes there is partial exclusion available but you need to meet either employment, health, or unforeseen circumstances.

Of course using the best tax free method of cash reinvestment available at the time1) Some lenders have 2 sides to their bank; find multiple lenders who do commercial lending.

Seems that these are often ridiculously cheap - but I'm thinking the market knows more than I do and they are cheap for a reason.Churches are often beautiful buildings in great shape, but are very awkward to convert into a SFH or apartments.Schools tend to be large projects requiring significant resources to remodel into apartments or senior facility and can be either in decent shape or quite run down.Masonic halls are often very similar to commercial buildings but usually need a lot of rehab.Also many of the bargains are in economically depressed or low/no growth areas.But still the price on these can be so low that getting positive cashflow should be easy.And there may be LIHTC (low income housing tax credits) available - anyone managed to snag any of those?

I believe I read through all of the material available on their website but I'd rather consult an actual tax pro that may have experience.  

@Josh Doeringer picked a great area too - I would love to help anyone that is interested and needs more info on the properties available. 

There are CRMs available but most of those cost money, and for your purposes I don't see the value over Excel.

If they don't there is a risk (small, but still a risk) that they can call the loan due since a transfer of ownership occurred, violating the terms of the mortgage.If you have the money available, I would pay the $127k + $16k and keep it cleaner for you that way.I hope that helps!  

I’d love to sit down with you to discuss some options that might be available to you.

See if they have someone available in state/city to let you look at the property 

There are 3 yr, 5 yr, 7 yr, 8 yr, 10 yr ARMs and 30 yr fixed Private Equity loans available.