1031 Exchange - Austin Condo for Galveston Loft

[Laird Doran]

I currently own a condo in Austin with spectacular views in the hills near 360 and 2222.  I am really interested in doing a 1031 Exchange for this property and getting into a historic loft in downtown Galveston near the Strand.  While I am familiar with the Austin condo market, I'm just trying to learn what the market for lofts is like in the historic area of Galveston.  Any thoughts / insights / recommendations would be appreciated. I am leaning towards having the property be a furnished rental (30+ days lease term).  Thanks in advance for the responses.