Does anyone have any knowledge about the tax law when you sell your stick house and what kind of penalities are there for not reinvesting in more real estate?  

I think there is a 1 time exemption on capitol gains but not sure. Maybe Howard will chime in. This is his area of expertise.

I posted the same question last year.  Here's Howards response:

http://www.activeboard.com/forum.spark?aBID=91511&p=3&topicID=28964379