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1031 Exchanges

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Danny Luu
  • Developer
  • Los Angeles, CA
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My potential first 1031 exchange

Danny Luu
  • Developer
  • Los Angeles, CA
Posted Mar 5 2020, 09:45

Hi All, 

I have an rental property in Houston, TX that I would like to 1031 exchange into a duplex in California. Only caveat is that I would like to live in one unit of the duplex and rent the other one. My question is, would it be possible to utilize the benefits of the 1031 if I am living in one unit of the duplex? The other unit would still be a rental but would the IRS consider this a like-for-like property exchange? Any advice would be greatly appreciated! 

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