1031 Exchange a Property Held for Less than 60 days

[Josh Engelhart]

I closed on a little single family house for 46k on 4/30. The bones were great and with new vinyl floors, HVAC work, and paint I'm in it for about $55k total with 40k financed. I finished today and am ready to list it for rent. I think I'll get an easy 800 a month and my PITI payment is only 308. Yesterday a realtor literally comes to the front door of my house and tells me I outbid the developer she was representing and asks if I'd sell.

In this scenario am I am able to 1031 exchange the profit into a new deal?

I know there is normally a seasoning period for the original property but from what I've read it seems like your original intention is what really matters.

I had no intention of selling, but I also didn't know I might make a quick 30k. If a huge chunk of that is going to taxes it is much less attractive and I'd absolutely rather just rent it out. If I can legally roll all of it into my next deal it might be the right move. Any advice is appreciated.