These laws vary state by state and are very intricate on how each is dealt.  

The small local QI may not be deep enough to handle intricate questions and give you economies of scale cost wise. 

While preparing to for their first purchase they spend all of their time worrying about running numbers, which in my opinion is easy to do once you find a system that works, and they do not spend enough time researching the tenant/property management aspects of a potential deal which are a lot more intricate than running numbers in almost all cases. 

Additionally, it's recommended that you bone up on the basics, so that when linked with a mentor locally, you will be ready to hit the ground running and be able to ask more intricate questions to rapidly build your REI career.http://www.biggerpockets.com/renewsblog/2013/01/04/how-to-rent-your-house/ (house rental guide)http://www.biggerpockets.com/renewsblog/2013/02/22/buying-rental-property/ (how to buy a rental property) http://www.biggerpockets.com/renewsblog/2014/01/07/flipping-houses/ (step by step guide to flips)https://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/ (Ultimate beginners guide to wholesaling)Your time on this social media site will be well spent.You have taken the 1st step by announcing your readiness and commitment to embark on a REI career.Whether you pursue, wholesale, rehab & fIip or buy and hold it's up to you to decide.The bottom line is that you must take action to start.

Congratulations on being more capable of eloquently expressing an intricate thought pattern than 99% if the folks here!

I am an ambitious newcomer ready to learn, listen, grow and educate myself in this intricate world of real estate investing.

A partial exchange can work very well if your profit is high and you want to decrease the morgage or pull out some cash and still get the tax benefit on part.BTW - I get the feeling that you're pretty savvy on this but it bears mentioning that these two requirements for a successful exchange are only part of a very intricate process with several other requirements that have to do under the direction of a qualified intermediary.  

NJ Eviction law is intricate - do you live in another unit at the property?  

He showed me the whole house, told me all the updates he had been making to sell it.We got to the kitchen, and I began speaking with his wife; listing to their intricate and incredible story of being landlords, traveling, and enjoying the good life.Everything was going beautifully. 

Read the whole thing as it has very intricate explanations for you.By the way, thanks for the question as many people have an interest in this.