I can only imagine what would happen the moment an AirBNB guest accidentally broke something, was unintentionally loud, arrived at 11:00 at night and made some noise or what have you.Offering some dirty, filthy money in exchange for increased opportunities to make yourself even wealthier (like Scrooge McDuck doing the back stroke in a pile of gold coins), will not be received well.  

Hi all,I’m doing a 1031 exchange and will have $200k to purchase my next property.

Well, you no longer get the depreciation deduction.Keep in mind that in a 1031 exchange the basis from the relinquished property (or properties), called the "exchanged basis," carries forward to the replacement property (or properties). 

Anyone know if a 1031 exchange can be done with a personal residence?

I was still using the equity in my Triplex, but there wasn't an exchange of liquid cash, which made this process much more simple although it prolonged it slightly. 

He lost that property a few years ago to foreclosure.Not only that, I can also do a 1031 Exchange to much bigger, better properties, if I can identify one.

My plan being one day to do a master suite ad on to the house, then 1031 exchange the proceeds into multi units out of state.

There is generally no recapture associated with the disposal since there’s no sale or exchange generating a gain.

Given your expertise as a contractor, you might find an investor willing to fund the rehab in exchange for a profit share or interest on the loan.Cash-Out Refinance:If you own other investment properties, consider a cash-out refinance to pull equity from those properties to fund the rehab.I work for Aslan Home Lending and we have a HUGE variety of loan products, including the ones mentioned above.

So much of what happens in a ghetto is foreign to me.