How Quickly Can You 1031

[John Blanton]

I recently closed on a 14 unit MF property in Central NC. I was able to get it at a fairly low basis and it appraised well above the contract price.

I have spoken to brokers that have told me if they being me an offer without listing I can 1031 sooner rather than waiting the usual 12-24 months.

In speaking to a few QI's there isn't a specific timeframe as the interpretation of tax code is a bit gray.

Is there a recommendation how quickly is too soon to try to 1031 into a larger property?