Where to reinvest 1031 exch funds?

[K S.]

Looking for ways to turn this into non taxable cash or just purchase something to avoid taxes.

I'm on my second 1031 exch but later found out that I can't use the funds to improve on already purchased land so I'm a little stuck finding something to purchase to avoid the hit on taxes and at the same time assist with the build if possible. I could purchase a condo and pull cash out using a HELOC?

If there's nothing one can do, would you just buy more land in cash to build on later or a small shack in the mountains for a 2 ADU Duplex build. Any advice?

[Julien J.]

@K S.

That would depend on my goals and strategy.

For me, its scaling up into the multi family. If there is nothing on market that will meet the timelines, then I look for SFR in good area for appreciation and that meet my return metrics.