This strategy can be a game-changer for building long-term wealth, as it enables you to leverage your gains without an immediate tax hit.Example: Sell a rental property for $300,000, reinvest in a new property of equal or greater value, and defer capital gains taxes indefinitely.5.

It is not your responsibility to house this person's items indefinitely in your rental. 

The 1031 exchange will indefinitely defer all tax on profit and all depreciation recapture.

At the time of purchase, I knew I might not want to stay indefinitely and at some point to might convert the home to a rental property.

Looks like there has been another indefinite stay of the filing requirement as of Dec 27. 

If you decide to sell and find an investment property with a greater cash flow potential.A 1031 exchange would allow you to indefinitely all of the tax and use it to your advantage to reinvest into larger nicer property/properties.

Obviously if I held all these properties long term I could continue to 1031 from property to property and indefinitely defer long term capital gains.

. § 2A:18-61.1(f) is an indefinite standard and difficult to measure.

You can indefinitely defer the tax and use it to purchase nicer property/properties, as well as not have to recapture any depreciation.

to your point, if you save up so that you're in a strong financial position, house hack a solid duplex in a decent neighborhood, make smart decisions, and hold it indefinitely, you'll be fine.conversely, if you have $0 and somehow start out with a risky flip, or borrow $20K and spend it all on a magic mentoring program, or buy a terrible property in a neighborhood you've never been to, you may not be fine.