Updated almost 11 years ago on .
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1031 exchange tear down
Hello,
I have a very important question and would be incredibly thankful if you could offer me some expertise on the matter. I live in California and have a property I have dealt with the 1031 exchange. I sold my first property for 30,000 and used that as the down payment for my new property which I purchased for 181,000. This is a multi family income unit. My question is would I be able to tear down this rental property and build a condominium complex with all different APNs? Thank you very much. Please let me know what my options are.
Much obliged,
Omid