If someone comes to me, I'll send them your way.If you need help in your search or want to verify something don't hesitate to ask.For example: I have clients worldwide and things are just as easy as I e-mail them, talking on the phone.

@William E.

There have to be other elements going into this tax calculation of 14k vs 40k because you're going to have a loss on this year's schedule E I'm willing to bet.

The rental portion can be depreciated whether it is a complex or personal residence, and all the income and expenses need to be reported on Schedule E as you would report a normal rental property, but just for the portion that is rented out.

It's far easier to claim 1031 applicability for a property that is reported on Schedule E rather than Schedule A of the tax return.Rev Proc 2008-16 gives a safe harbor (which of course doesn't preclude any other scenarios) by saying a hold period of 2 years and rental of at least 14 days/year and personal use limited to 14 days or 10% of the amount of time rented for both relinquished and replacement properties.Actual rental is valid but not required by statute.  

@William E. good information, thank you!

We are looking at a property that will be on an upcoming auction and ordered and O&E report.

@Dan MitchenI am looking at a property in 44108 on E 118th st.

Salman E.

Look at g a r e i a .