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Updated about 4 years ago,
Convert a Vacation home to an Investment property for 1031
We have our house in Lake Tahoe, California for 6 years for which in the past we've used a portion of the year as a vacation house (random weekend visits mostly, but a couple of summers we lived at the house), and had the house available on Airbnb for the rest of the year (majority). We are considering selling it in the near-ish future and want to know how we can defer capital gains tax by getting it to be classified as a rental/investment property so we can use a 1031 exchange?
Thanks in advance!