1031 exchange single family to two multi-families

[Carini Rochester]

Investment Info:

Single-family residence buy & hold investment in Rochester.

Purchase price: $22,500
Cash invested: $10,000
Sale price: $100,000

3 Bedroom Two story, city house, urban area.

My tenant bought the house from me in June, 2023 for $100,000. I'm using the proceeds for down payments on two multi-family houses. These two should close in late July, 2023. Rolling over the money via a 1031 exchange. My investment and sweat equity from 2016 will become $430,000 worth of real estate by the end of the month.