You're stuck. The 1039 rules refer to a "like kind" exchange, which if you start with real estate, ends up in real estate. But you have options: (a) Get a management company to run the place; they usually charge about 10% of the rent. (b) Sell the duplex, and put the proceeds into vacant land via a 1039 exchange. Basically no management hassles. (c) Sell the duplex, and buy rental property close to your new digs with a 1039 exchange. Then you can manage it yourself.

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you can be an investor and a real estate agent. if you buy a property as investment and you are an agent, it's yours. Your company will not let you invest their money unless you work at some kind of investment company. Also, if you are poor, you do n't want to be investing your money in real estate, you will want to be investing OTHER PEOPLE's money in real estate.
Contact me if you want to find out more.

-Angela

http://www.ratraceclub.com