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1031 swap into Owner-occupied multi-family
Hi,
I have an investment condo (rented for past 7 years). I would like to 1031 exchange into a multi-family property and live in 1 of the units. So my guess is that I can exchange for the portion of multi-family that i rent out. For instance - if condo sells for 750K. And I buy a 4 unit multi family for 1M, I should be ok. Is my understanding correct ?
Thanks !