103,1 multi unit property, selling units individually.

[Kyle Rutger]

I was wondering, if you currently own a multi unit property (let assume 5 units, 4 with the same surface one a bit smaller),  let's say bought for $500.000 and you only sell one unit for $170.000, how the capital gain would be calculated. Would this be done based on surface m2 or the number of units defied by the purchase price? 

In the event the loan amount is still $475.000 (property bought at 100% financing) and the bank demands that the loan should be paid off entirely in the event the units are sold. Meaning that if one unit is sold the entire amount minus costs broker ($170.000) should be paid to the bank. In this case it would be impossible to comply with the 45/180 day rule. This because between one sale and a other sale there could be a time gap of months, and the second thing would be that for the first three units the proceeds would be used to pay of a mortgage and would not be able to put to use to buy a like kind exchange.