Apartments for Low Income

Questions and Answers

Your Questions About Duplex

June 21, 2013

Laura asks…

According to National Electrical Code, What is proper installation of grounded duplex receptacle, ground up or

down? Reason being, if metal cover plate is used and the single retaining screw backs out causing the metal recepatcle cover to rest on an energized hot and neutral plug which is not completely “pluged in” thus resulting in a electrical hazardous condition.

Does the latest NEC Code state all duplex recptacles to now be installed with the ground up to prevent such an hazard from happening?

Administrator answers:

There is no statement in the NEC, it’s a matter of personal preference. Although I prefer ground up in commercial buildings because many times I have shorted a receptacle when my measuring tape dropped and crossed the partially exposed exposed prongs in the socket. (I did a lot of measuring and renovating office space.)

Thomas asks…

What kind of furnace should I get for a 1200 ft duplex?

I just bought my first place and don’t know the first thing about doing all the stuff I need. I need a new furnace. The duplex is 1200 sq feet, 3 bedrooms and bathroom upstairs, tv room, kitchen and half bath downstairs.

What kind of furnace should I get? Also, what should I expect to pay for the furnace and also to get it installed? I’m in the Chicago suburbs if that makes a difference.

Administrator answers:

There are many different kinds the big question is about if you also getting central air that is what size you will need to cover the square feet~i would suggest 85k to 100k btu-s this is how they base it but if you are not going to have central air it wont matter if not you will need about same size furnace for that size of home and friend in your area i would call for estimates they all will vary

Sharon asks…

How full duplex works on analogue phones?

I dont understand how full duplex is achieved on regular analogue phones(that connect to fxs port).
So there are 2 wire only, how can you do tx and rx(speak and hear) at the same time if no tdm/fdm technique is applied?

Administrator answers:

Hi each wire has a bi directional amplifier in it so one acts as the earth return for the other simple logic old boy.

Carol asks…

how do you convert a condo back to a duplex?

purchased a condo (duplex). The condo fee keeps increasing ,but the association is not making the exterior repairs that are needed.

Administrator answers:

Your Declaration (aka CC&Rs) will tell you how. It was recorded with your deed.

Ruth asks…

Can you sell a 13 unit trailer park and buy a duplex in a year with a 1031 Exchange?

Can you sell a 13 unit trailer park and buy a duplex in a year with a 1031 Exchange.

Administrator answers:

Yes, you can, but there are some rules you must follow.

First, you must be selling and buying investment property, or as the code says “…property held for productive use in trade or business of for investment.” If so, then these two properties are considered “like-kind” under IRC 1031. Now, you need to understand the time requirements.

You must identify your replacement property within 45 days from the date that you relinquish your property. You also must acquire the replacement property within 180 days of the date that you relinquish your property. So, in almost all situations, you must complete your exchange within 180 calendar days.

Lastly, there are financial requirements to have a satisfactory 1031 exchange. To defer all of your taxes, you must first deposit all of your net proceeds from your sale with your QI and use all of those funds as deposit on your replacement property. Secondly, you must acquire a loan on your replacement property of equal or greater value than the loan which is paid off on your sale. If you do not have a loan payoff on your relinquished property, you do not need to get one on your replacement property.

Remember, when you do a 1031 exchange, you must hire a Qualified Intermediary (QI) to prepare documentation and to set up an account for your funds BEFORE the closing of your relinquished property. I am a Qualified Intermediary with First American Exchange Company, one of the nation’s largest and most financially secure Qualified Intermediaries.

If you would like to learn more about the process, visit our company website at http://www.firstexchange.com. To watch a 3 minute flash presentation on the topic, visit the link http://firstexchange.com/content/short-course

First American Exchange Company (FAEC) is a full-service Qualified Intermediary that does business in all 50 states. FAEC is a wholly-owned subsidiary of First American Title Company. We have offices across the country for your convenience. Please visit our website and find one of our offices in your area. Should you have any further questions, please contact us through our corporate website or contact me personally at pro1031@yahoo.com. I would be more than happy to answer any questions you may have about the 1031 process and get you in contact with one of our representatives in your area.

Powered by Yahoo! Answers

Related posts:

  1. Your Questions About Duplex
  2. Your Questions About Duplex For Rent
  3. Your Questions About Duplex
  4. Your Questions About Duplex For Rent
  5. Your Questions About Duplex For Sale