Check out Michael Lantrip's books on Amazon, he's an investor, attorney & CPA - his books are really easy to read and they explain the 1031 exchange process.2.

I am living and working in Los Angeles as a management consultant and CPA.

Gotta preface this by saying I am not a CPA and this is not tax advice.

I would strongly suggest speaking with a CPA.

Up to 250k in profits can be taken tax free, but consult your cpa to be sure.

For the record I will certainly hire a CPA when I get near this situation, but for now I'm just trying to wrap my head around my options 2-3 years out.

I held the triplex for 10 years more, and sold it.Had I sold the triplex when I moved, which I considered, and checked with my CPA, the unit I lived in, which I allocated as 33.3% of the building qualified as my primary residence.

The $ paid to the LLC for the build would be fair market value and passed to me via a K1 (The $200K is a discounted value based on building it myself.) 7) If you think this would make a great case study episode for the podcast please let the appropriate people know =)Consult your CPA.

I am a Certified Public Accountant (CPA, Illinois) and Chartered Accountant (CA, Canada), recieved a Bachelor of Mathematics degree, and a Master of Accounting degree from the University of Waterloo located in Ontario, Canada.What is your background and current real estate focus? 

@Darrin Jones talk to a CPA who specializes in RE.