Farming is the primary industry and although I can stay plenty busy here remodeling investing here just doesn't make sense.

I'm taking a longer view, so I build a tandem house in the rear, and keep the old primary dwelling unit in service for many more years.  

My current mortgages on my primary and investment properties already exhausted all of my usable income based on DTI calculation. 

I'm working on adjusting my mentality from handy man to business man - I did a flip in central NY as a hobby a few years ago.My primary focus is on SFR flips right now but I'm looking to add sources of passive income.I'm always up to grab a cup of coffee to get to know local investors better - feel free to hit me up on here to schedule a meeting.

But it was not done traditionally.  

My goal is for real estate investments to be my primary revenue source.

The situation is as follows:- I owned and lived in this home for 25+ years- 7 years ago we moved to Idaho for work reasons, and rented out the property- We plan to come back in a few years (4 max)- I recently learned that I could subdivide this property and build 2 new homes (and have been working on that; it is now approved and soon to be subdivided)- I have an offer on the property that is high enough for me to consider selling instead of developing myself- Since I can sell the property before subdividing, there is an opportunity to keep my low tax basis via Prop 60/90 (I'm 55)- Since we are not coming back for a couple of years, I also want to take advantage of the 1031 exchange rule, and purchase a replacement home with the proceeds, then rent until we returnWith the above in mind, is there any way to keep my low property tax basis, not using the home currently as my primary residence?

I'm having difficulty deciding what my primary game plan is, because I'm in a situation where I don't think I can afford the area I live in, but I still want to keep my options open.

Quick Facts- Judicial Foreclosure Available: Yes- Non-Judicial Foreclosure Available: Yes- Primary Security Instruments: Deed of Trust, Mortgage- Timeline: Typically 120 days- Right of Redemption: Yes- Deficiency Judgments Allowed: Yes

The seller has significant equity in each property and is offering to carry a second (presumably a portion of the down payment).My question, forgetting about the potential seller carry back for a second, is how will a traditional lender (likely portfolio) look at the forgivable NSP mortgage?