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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]we have one, but we use it one month a year and close it one month a year for a refresh. House has tripled in value and after all expenses we net 42k/yr, which we have invested in the market ins. taxable account.

we are planning on a 1031 exchange in 5 years when our youngest graduates college  for a  true retirement home that will have no mortgage, allowing us to pocket all the profits from our primary home when we sell.

it’s been an excellent investment. [/quote]

Except you apparently have been using the property personally for more than 10 percent of the time that it’s been rented, which complicates making a 1031 exchange, and you also cannot move into your “true retirement home” under a 1031 exchange until you’ve rented it out for at least 2 years first.  Not as straightforward as you think.  [/quote]

lolol! who is going to tell them i’m using it a month a year?

BTW you only have to demonstrate investment intent. Not exactly difficult. This isn’t my first rodeo.  [/quote]

Ah ok you’re a tax cheater now I got it.  [/quote]

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