1031 exchange or show income for bank loans

[Clayton Smith]

I purchased a property earlier this year that was in terrible shape and I believed it was a teardown so I got it for the land value. I planned to BRRRR the property. I cleaned the property and lot up and repaired the structure and it was not in as bad as shape as I originally thought. I got a cold call from a fellow investor and I threw out a high purchase price and he agreed. So I stand to make just under a $25k profit selling the property. I started my LLC last year and this will be the first time I show income and would like to finance my deals based on my LLCs income and not personal in the future.

My question is do I show the income on my taxes to help with loans or do I 1031 exchange the property and defer the taxes? Since I just bought the property I have not claimed any depreciation. This will be my 3rd flip this year so I will show around $75k in income plus my rental cashflow. Just want to get some advice on how to move forward. I have talked to my CPA and he said since the buyer contacted me unsolicited it will meet the 1031 rules on intent of the investment when purchased. Any advise would be great.