Perhaps you could also purchase a duplex, for example, and use personal funds for the portion that you can live in and 1031 funds for the investment portion.

Compare other rentals with a similar size, location and bedroom count to get an estimate of what the rent would be while you're living there.

That means the government has been borrowing my $600k (instead of $1.2M because I don’t live in California.) interest free for more than 10 years.

(IF you purchased and lived in property asap, then rented it out, then returned to it it sell it years later - better plan.

The only reason I like it is that I live here and have systems to buy deals under market value.  

If you live in or around Denver you've probably heard of the Park Hill golf course - if not, here's a quick rundownBackground: 1.

Perhaps I have an odd case but I paid $1.35M or $455 / sq ft for a 3,000 sq ft duplex on a 7,000 sq ft lot in Los Feliz.Once I add the ADU complex, which will be around $350K, it will be a quadplex, 4,600 sq ft of living space. 

If someone is willing to live in and renovate the 2 of last 5 year capital gains exclusion is a significant consideration.

He wants to live in one and use the other for his studio. 

i think its the easiest asset class to understand that isn't stocks and a lot of peoples livings depend on marketing how perfect it is