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Updated about 6 years ago,
1031 Exchange Question
Hello BP,
I'm considering selling one of my properties in a 1031 exchange. What I'm looking to possibly do is on the sale keep some money in the property I am selling to retain say 5% ownership likely structured in an LLC. But the rest of the proceeds would go toward another purchase. Does anyone have experience in this or does anyone know if this is allowed? I could see it going either way.
Thanks,
Steve