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Updated over 6 years ago,
Minimum time to AirBnb/Short term lease before 1031 on sale?
I was looking at a deal recently that was for multiple properties at once and one would have included something that turns into a flip.
The property was also in a fantastic area for Air BnB so the plan was to actually air BnB as is for a while, then do the work for the flip and sell it. I was trying to determine how long I would need to use it as an air BNB before I could potentially 1031 the sale of the building. I wasn't able to find anything on this though.
Does anyone know what is required, or have a general rule? It seems like there could be potential to use this kind of temporary rental structure to make things like a slow moving flip be 1031 eligible, potentially saving a lot of money over time.