I need to buy a new home for myself and my handycapped mother - need to take her in.
To do so I need to sell my investment property.
Is there any way to avoid paying huge capital gains taxes?
Option 1: Do I still have to pay capital gain taxes if I first refinance the rental property and sell it later down the road?
Option 2: In case I go for 1031 exchange - when is the earliest I can convert my new investment property into a personal residence?
Option 3: I refinance, and will use funds to buy my new home, then will do 1031 exchange
Option 4 Refinance, then quite claim the property into my living trust? Then 1031 - whatever
Option 5: Refinance, quit claim to my son, he will sell
Any advice will be greatly appreciated