You could even ask that the residents sign the notice at move in and explain it to them at move in.

I've been looking all around here for both flip and rental opportunities, but I'm not rushing since it's going to be my first deal (outside of purchasing my primary residence).

Is there any exception to recapture of depreciation if you convert your 1031 to a personal residency and later sell it?

So if I fail to rent it - is there any way to convert it into a primary residence later?

I am especially interested in non-resident rules.

I grew up on LI and now reside and work in Manhattan.

I’m interested in what others have done in regards to extracting equity from a primary residence to fund the purchase of an income property without going cash broke.

They signed a lease, but I didn't, and I've lived in my residence for 9 years.

The property includes lot A with the residence on it, and a portion of separately deeded lot B.

I'm in the process of forming an LLC / Selling my personal residents / buying my 2nd quadplex, which I plan on living in one unit and renting the other 3.I will have many questions and hope to learn tons of new information.