--96.251.xx.xxx

--207.118.xxx.xx

I am 48, and not ready to walk away just yet... However, I have thought of my exit strategy. Why not just turn it over to a property manager? Let them deal with all the mess, and I mean all of it. I want to be able to pass all my houses to my daughter when I die. Everything will be paid for in 10 years, and the money will be even better than it is now, which is already staggering. If I sell, there is all those danged taxes, so why sell? Plus if I sold, where would I park those millions? Personally I don't trust the banks, stock market is dangerous, although I do play often, but it shouldn't be a place for an old person to put the money. --71.164.xxx.xxx

why not do a 1031 exchange for new properties with less maintiance maybe not as much ROI but at least you dont pay the taxes. and you can pass down that to heirs or do what zuckerberg did...create an entity say that you are donating your wealth and control it under that name! --168.88.xxx.xxx

Why sell. Get someone to manage it. Die with the properties, they get a step up basis at death. Then sell with no tax. --24.123.x.xxx

Sell and carry the note ... no management/maintenance issues. Keeps the entire value working. Cap gains only on what is collected monthly. --73.249.xxx.xxx

--74.96.xx.xxx

BRAD --68.50.xx.xxx

1031 has to be like for like to hold --172.56.xx.xx

The "like kind" on the 1031 is pretty loose. I did duplex in the hood for lake front land. No questions asked. --73.249.xxx.xxx

It struck me as very prescient, (and risky in a way that most people don't think of risk). --70.194.xx.xxx

--68.50.xx.xxx

L. and Homer , it might be time to look up a good Elder Care Attorney, I know ,they are pricey, but otherwise so can the taxes. And look what you get for them.your taxes sitting over in Iraq or Afghanistan don't do your family much good here. So invest the money that way, All the blowhards you hear in Ohio or New Hampshire won't do much for your bottom line, no matter who makes it to Washington,and no matter what you may inevitably think!!!! Charlie.... ... ... .... ..... ....... --70.215.xx.xxx

I didn't read Sam Walton autobiography,but like Kirby alluded to Sam. Walton's mamma didn't raise no dummy. Charlie.... ... ..... ... .. .. ... .. .. .. --70.215.xx.xxx

Please folks, reply. I am sooo serious about retiring. I want to hear from the folks who have done it. (But would they be even looking at this website....as they are now free!). --108.13.xxx.xxx

I am 63 and sold one house to the tenant and financed it for 20 years. I figure I've got 20 or so years left Their payment with taxes and insurance will be $50 more than the rent and I will net more than I was while owning it. They paid a $2000 down payment and have never been late in the 2 and years they were renting. My plan is do this with the rest of my rentals. I will only do this with a tenant that has demonstrated at least a two year good payment history and has taken good care of the house. You have to be careful of Dodd-Frank. --107.77.xx.xx

I think when you trade rentals in for the 4 condos there may be a certain number of years they have to be rented for prior to you being able to live in them. The like for like is based more on $'s and tax id #'s I think. We have someone speak to our landlord group every few years. She highly recommends that we call her and learn about the process ahead of time so we can do some planning prior to selling. It can be complex, but the system can be worked. I believe there are ways to 1031 a partial amount of the sale and cash out with capital gains for the remaining part of the sale too. --73.253.xxx.xxx