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Updated over 5 years ago,
Matt BerklacyPoster
- Rental Property Investor | Realtor
- Jacksonville FL | Savannah Ga |Raleigh NC
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1031 exchange, personal/rental to llc, and ways to extend4 deal?
Acquired property in Raleigh NC Briercreek, 150k, few years rental, paid off cash; titled personal name,
Selling 225k, want to buy a property elsewhere cash, look for deal, auction, and pay it in same cash, and live part time in it, and airbnb it also as rental.
will this fly as 1031 exchange, (like buy new as LLC, single member, single member live part time in property, airbnb it)
and are there legal loopholes to extend 45 day deadline for a new deal.