My husband and I are looking for a single family home to purchase as our primary residence. An ad for a home that looks appealing to us indicates: "Buyer to participate in 1031 exchange." I understand the basic principle that a 1031 exchange is a way for the owner of a business or investment property to sell the property and re-invest the money in a new business or investment property without having to pay capital gains taxes on the sale of the original property. However, what I don’t understand is what the risk, if any, would be to me and my husband were we to purchase someone’s investment property as our primary residence in this type of situation. Is it simply a matter that we would have to agree to be in escrow until the seller locates and purchases his "like-kind" exchange property? Or is there more to it than that?

I want to short sale an investment property. the difference between what is owed, and actual value is signifigent, and will lead to bankruptcy.

if we recieve an offer from a potential buyer, can i counter it back to say "subject to: bank not issuing 1099 for the difference"?

FYI – the bank is WAMU.

This 3BR 2BA is Smart Buy! This warm and inviting home is nestled in the quiet Summerhill subdivision and features vaulted ceilings in living room, breakfast area, functional kitchen, fenced in backyard closeby to a cul-de-sac so no through traffic! Functional kitchen space, separate dining room and living area. This is the perfect starter home for the first time homebuyer. FHA buyers welcome! This would make a great Investment Property. •14 minutes to Orange Park Mall and AMC Movie Theaters …

I have been pre approved at one time for down pymnt assistance as a first time home buyer . However I would like to make it an investment property without occup the prop . Are there options