Quote from @Dave Foster: How would a 1031 exchange benefit him if he can sell today using the owner/occupant exemption? 

If you have even a single passive investor (limited partner), you are selling security and this activity requires to have proper documentation (PPM, Subscription Agreement, Operating Agreement, Form-D with SEC).I am not a lawyer but I read Gene Trowbridge's book "It's a Whole New Business" where he explains these things in great details.Please contact a securities lawyer to get clarification of whether or not family and friends are exempt from syndication.

AgreedI did 4 years. made a mediocre salary.....but benefits are ridiculous, though that's hard to appreciate as a 18 year old punk kid. then I got out and have the VA loan to use 70% disability income tax exempt for lifeBachelor degree paid for with GI billVeteran discounts on property taxes for my primary housearmy will be the best paying job I'll ever have, by a long shot! 

I will probably continue investing locally because I’ll need to owner occupy the first few but definitely see the next step being out of town investments if I survive the intro period. check the rules federal law dictates that a owner occ in a 1 to 4 unit does not have to follow federal fair housing.. so I would check with local attorney who knows his or her stuff you maybe exempt if your owner occupying 

How big of an impact is losing the homestead exemption?

ADU's must be exempt ?

What the gurus dont mention is the 500k tax free exemption for married couples.. 

They were able to get themselves some regulatory exemptions.

Most successful investors here are the exemption.

Every time a corporation contributes heavily to a campaign to get a seat at the advising panel that recommends the wording of policy in order to create a loophole or a subsidy or an exemption, they're good businesspeople.Every time a high net worth individual declares his income as part of a trust inside an S-corp inside four or five LLCs, structures himself and his businesses like a pretzel, creates four or five highly questionable writeoffs to avoid paying out a penny more in taxes than he absolutely has to, he's really just "sheltering his assets."