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Updated almost 3 years ago,
1031 Exchange LTR to STR
Hello!
We are considering 1031 exchanging one of our long-term single-family rentals here in Kansas City for a short-term rental condo in Myrtle Beach. I'm nervous though about getting rid of our cash flowing long term rental for something that we know so little about. Our goal is to utilize the appreciation we've gained to re-invest in something more active and produce a higher income. I'd love to get some thoughts on this! Does anyone have any experiences they could share with doing something similar?
Thanks!