1031 Repairs and/or Rebuild

[Lorri Martin]

We recently 1031'd a rental property for a rental property. After closing, we realized the new rental property is in much worse shape than we originally thought. Can we do a major renovation to the property and write off the expenses (or depreciate) on my income tax? Can we demo the entire house and rebuild? Is there a timeline if I am not using 1031 funds? Or should I just "band aid" what we have for a time period?