Investing advice for a beginner

[Donald Krenzien]

Hello, first time posting. My wife and I are looking to buy a new home for ourselves. We want to acquire rental properties and are faced with 2 options listed below. 

1st: keep out current single family (2 br/1 bath) approximately 85k/14 year left on the loan and an estimated value of approximately 165k. The current market rental comps are $1200-$1500/mo. 

2nd:  we would conduct a 1031 exchange to acquire a primary residence for us and also acquire a duplex as our first rental property.

[Kevin Sobilo]

@Donald Krenzien, you have 14 years left on your current loan? If that was a 20 or 30 year loan that means you were in the house 6-16 years. If a property is your primary residence 2 of the previous 5 years before selling there are exemptions to paying capital gains up to certain limits. So, you wouldn't need to do a 1031 exchange.

https://www.irs.gov/taxtopics/...