I am in college and I just bought a duplex at the beginning of the year. I live in the top half and rent out the bottom half. I understand that for tax purposes you treat them as two separate properties. When I graduate and move I will have owned the property for 18 months. I understand that I can avoid taxes on the sale of the half I live in because I am selling it because of a change in employment. What about the side I am renting out? Can I do a like kind exchange? Can I exchange it for a single family residence that I will be renting out, or do I need to buy another duplex? I don't want to buy a duplex that I will be living in.
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