You typically have two years to find property that must have a similar use: Our friend @Bill Exeter has a great page detailing this type of exchange: http://www.exeter1031.com/1033_exchange_faqs.aspx#howSection 1033 US Tax Code(B)Period within which property must be replaced The period referred to in subparagraph (A) shall be the period beginning with the date of the disposition of the converted property, or the earliest date of the threat or imminence of requisition or condemnation of the converted property, whichever is the earlier, and ending—(i) 2 years after the close of the first taxable year in which any part of the gain upon the conversion is realized, or(ii) subject to such terms and conditions as may be specified by the Secretary, at the close of such later date as the Secretary may designate on application by the taxpayer.

As the title suggests I am a brand new REI knowledge sponge.

I'm brand new to BP and real estate investing so seeing another new guy go for it is great motivation.

Not the way it was designed but their health has declined so that's the way it's ended up.

There wasn't anything that we left and he was thrilled to have an essentially brand new place with nothing old to worry about.

An alternative is those solar powered lights designed to light walkways etc.

-How do you designate the bedroom to the tenant?

@Dion DePaoliI stand corrected.Though I would probably designate that as a "complex" - though not offshore - structure which may not be cost-effective in this scenario ... but I could just as likely be incorrect here.

I am an Electrical Engineer, and after years of design I made a move to Business Development within the same company.

I own a event planning and design business which help me out to do home staging for client and sometime real estate investor that want to sell their property at a high retail price because the new home owner has a emotional attachment to the layout and design of the place.My goal is to buy and hold a few properties.