Master Lease and 1031

[Bernie Huckestein]

Question about Master Lease and 1031 exchange

I have a lead on a property and wondering when the timer starts for the sellers 1031 here is the particulars

90 units needing of significant repair and re-position, property is currently @ 80% occupancy with most current rates significantly under market (units under market are month to month)

Property is in a solid area and with the intended rehab investments will enable the 90% for 90 Days required for eventual agency debt

The owner wants to 1031 his money into other commercial properties which he does not yet have identified...he is thinking a lot less management oversight

So my question --  I've discussed a Master Lease with the seller giving me time to bring the property in the 90 for 90; however, checking to see when his timer starts for 1031 hoping it is when the option is executed?  Doesn't help either of us if the timer starts at the Master Lease date.

Thanks, b