All Forum Posts by: Ziad Almufti

Got it!  That seems reasonable.  Thanks for the nuggets, @Dave Foster

@Dave Foster - thank you for the helpful input.  I agree, the wholesaling/flipping background isn't the best look.  Do you have any examples of how one may effectively document intent? 

Hey all, 

I own a boutique glamping hotel. We bought the land in an LLC 18 months ago and immediately began construction.  We opened doors to guests just 4 months ago.  

Our intent going into it was to hold long term.  We now have decided we want to sell.  Question: would our proceeds be taxed as ordinary income, or capital gains?  I'm unsure if the 365 day clock started when we broke ground, or when we welcomed our first guest.  Further, would we legitimately qualify for a 1031?

@Stefan D., I've sent you a PM.  Would love to hear what you've learned!  Using this strategy for the first time for a closing that's coming up in just under a week.