This was my first 1031 exchange.

Hi @Debbie Cost, The California Franchise Tax Board issued Notice 2019-05 stating installment sale "arrangements" designed to defer taxes when a 1031 Exchange fails will not defer taxes.

I have a good understanding of the 1031 exchange but have this question.

Plus, no charge to the tenants, in exchange for free laundry service.  

What’s weird is I’m seeing some foreign money buying say a $400k house that rents for $2800.

Which is essentially selling the property without having to pay taxes or 1031 exchange?   

There are also additional rules if you are doing a 1031 tax deferred exchange.

My last couple buys were through 1031 Exchanges (look it up in the glossary if that's new to you -- pretty cool concept though not necessarily the simplest!)

I loved what you said about exchanging comfortability for profitability.

Here's mine:To Spend my time, knowledge, and energy on my passions in exchange for fulfillment, wealth, and purpose.