Help. This is something new to me.. 1031 Exchange Bad invest.

[Thomas Allt]

Hello Everyone,

I am a newer investor. I have a property in California that was purchase at the wrong time of the 2007-2008 era. Top of market. Dropped the value down a lot. Anyways. Currently the property has about 10k-14k equity in it and want to dump it. Its hard to rent out. 55+ older community, HOA, Bakersfield etc. All bad and was not one of my better decisions in life :) I want to do a 1031 exchange to a house in Idaho. House in California is about 180k Value and the Idaho is 160-165k. Want to take cash in hand and equity from the California house to purchase the Idaho house. These are investment properties. I have and still reading the 1031 IRS rules.

Questions Trying to Answer:

1. Is there anything(Besides the time allowed) that I should be concerned about or look more into?

2. This house in under my mother's name. So when she passes I will inherit it from here and was wondering if I would inherit it with the 1031 still hanging over it or would I get the house in reset mode and all appreciation and such are reset. (This is her question not mine. I am not planning anything:) )

Thank you all for the help!

Thomas A