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1031 Exchanges

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Larry Asiak
  • Investor
  • Chicago, IL
2
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17
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1031 into financed SFH?

Larry Asiak
  • Investor
  • Chicago, IL
Posted Jan 15 2019, 14:28

Is it possible to 1031 from a out of state rental to my current home?   I have a duplex out of state I would like to sell.   I am wondering if I can take the proceeds and roll it into my current mortgage.   I owe 1/3 of the value of the house on the mortgage and that should be close to what I net from the sale of the rental property.   The premise being that I will rent 1/3 of my current house, either short term rental AIRBNB or roommate. 

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