I'm currently planning to purchase a commercial multifamily building in Chicago with the proceeds of a 1031 exchange.

In exchange, I have first rights to sell the property through a power of attorney. once it sold, the seller get his agreed price, and I get the rest.

Maybe we can exchange insights and strategies to help each other navigate the challenges of getting started.Looking forward to staying connected!

So yes you can exchange it to save capital gains taxes on $266k plus 19 years of depreciation recapture.

@Ilia Zakharav, There's no problem in selling individual units and 1031 exchanging them as individuals. 

@Bayo Badejo Agreed, that Zip touches a lot of different areas, from the national park to south of exchange.

Ask questions to find out about their reasons for selling, desired next steps (i.e. relocation, 1031 exchange, etc.), and anything else that is important to them.Ask follow-up questions to dig deeper and learn more (without being too intrusive) then jot down any relevant notes so that you can reference them down the line during your follow-up calls.

Key provisions like bonus depreciation, the 20% pass-through deduction, and 1031 exchanges have saved investors thousands of dollars each year.

It's not simple, sorry.If you have not closed, consider tax mitigation strategies such as a 1031 exchange.

I have it all set up for a 1031 exchange and I am now under the 45 day countdown.