He wants to trade houses (with boot, too)
So my neighbor wants to trade one of his houses for my house.
His house is nicer than mine in a variety of ways. He plans to rent my house.
I would give him my house and maybe $40,000.
We are wondering how this works when it comes to tax time... and/or how this type of deal can be made at all! Neither he nor I have ever done this sort of thing.
No financing would be involved.