Posted by dealmaker on May 29, 2007 at 18:19:21:
You’re describing prety much what we did. We had an pure rental in CA, did a 1031 into the house we wanted to weekend/retire into. Once we got it we rented it for two years and just stayed in other places when we came up here. After 2 years of rental we moved into it full time.
NOTE; on a property that you acquired via a 1031 the TOTAL HOLDING PERIOD is 5 years instead of 2 years in order to get the capital gains exlcusion.