This is someone that is month by month and is living in the house that is being sold as a primary residence!

Lets say someone wanted to invest $30,000 on a single family or multi family residence.

what states do penalties and do you have to be resident to invest in a state?

However, what is not mentioned that not ALL types of investing work anywhere.For example, someone who wants to invest ‘SUBJECT TO’, by taking over payments from owners who have zero to little equity in their homes, must realize that they will have a much harder time finding these ‘upside down’ owners in older neighborhoods, where most residents have their loan balances paid off or just about paid off.Rehabbing would probably be a better strategy to pursue in OLDER, more established neighborhoods.However, here is another problem.

I just cancelled the one on my residence, because I have to replace the water heater.

Hi everyone,My name is Mike & I reside in West Palm Beach, FL.

Since the exchange is simply a way to postpone tax on a gain, and you have no gain, it would be pointless anyway.Also, you can't exchange your residence, it's your residence.

The property must be the primary residence.

Some owners live in the structure and act as resident landlord, while others hire a competent management company and just checks in on their competency.

A lot may depend on the state of residence and the state in which the property is located.