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1031 investment property and rent primary residence?
I will be selling my property with two homes on it- one has been my primary residence and the other a rental. I would like to take what will be approximately 1/2 of the sale profits (those attributed to the rental home) and do a 1031 exchange with a new home that I will then rent out.
I hope to then rent a place of my own in another town.
Would this be alright? Thanks in advance!