Quote:
Originally Posted by timeforchange
We are moving to TV in August and full time. We are selling our current home and are debt free. I also have a rental house with quite a bit of equity if I sell the capital gains tax is a lot. If I do a 1031 transfer I would like to find a partner to go co-owner with me for another TV house or Villa for rent. My transfer has to be for resi or commerical propery. Anyone interested? I am willing to invest $100,000 or more in the property we buy and do not want to have a mortgage. All of this (of course) would have to go through a contract by an attorney. We would then split the monthly rental or divide base on the persons investment.
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You wouldn't be able to move here this August if you did it...but...you could sell (relinquish) your rental property, buy a new (replacement) property at TV, rent it for a year, then move into your replacement property after you've treated it for a year (or more) as an income-producing property. If you do this, you don't pay the capital gains tax.