1031 exchange question
Situation: Planning to sell a townhome and buy another one via 1031 exchange.
Questions:
1. I am planning to live in the new townhome for sometime like 6 months to a year. Any issues with this? Does it disqualify me from taking tax deferment via 1031?
2. Current property is paid off. So, the new property can be bought with cash. Will there be any issue, if I pay part of money (20%) to the new home and finance rest? Do I need to pay income taxes on the gains?
3. Will there be any issue, if I buy the new property ahead (1 or 2 months) of selling the current property
