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Updated almost 9 years ago,
Selling multiplexes and buying a vacation rental?
I'm selling my multiplexes, and I had the idea to save the capital gains tax and instead purchase a SFH that would be a short-term vacation rental. I remember the 1031 code saying something had to be similar to what you sold, has anyone done something like this before? I see some consolidation posts, but they are all for larger buildings, I was thinking of something like a luxury SFH that could be rented out on VRBO or Airbnb or something.
Has anyone gone so far as to purchase a new SFH as their primary residence and rent out rooms or something? Trying to think of how to qualify for 1031 in this type of scenario also.