Are you going to keep the separate bank account, keep corporate minutes?

Property management is a separate license in Alberta.Correct.

Purchase price: $630,000 Cash invested: $120,000 Completely gutted this property, brand new electrical, furnace, propane, finished basement to create separate unit.New garage with rental unit.

Or you can sell it, split the equity, and go separate ways.I'm not a fan of borrowing from family/friends unless all parties are honest and everything is documented in a written contract.

@Javen Harris I was born and raised in KC (OP), moved down to Wichita about 11 years ago.

My duplex - built 1989, 2,060 sf, 2 bed/bath, 1 year old roof, value if I subdivide (county already approved) and sell each separately $150k each ($300k total)Investor duplex - built 1995, 2,300 sf, 2 bed/bath, 5 year old roof, value around $310kThe investors initial request was for an equal trade and they would pay realtor fees, which I replied wouldn't be equal due to buying/selling costs (recording fees, title insurance, closing fee, survey, inspections, loan fees, 1031 fees, accountant fees, repairs), taxes would increase due to new sale price, I'd trade a 3.75% mortgage for a higher one, and I'm on the 10th year of a 30 year loan so resetting that to a new loan would restart amortization and pay more towards interest.

Plus I would get some separation between the 2 stand ups.

Separate from real property.

I bought 6 unit property in Wildwood,NJ,in November 2024, doing rehab now, should be done by May 2025I am planning to subdivide 6 unit building to 6 separate condos and sell fall 2026, , if there are any experts in 1031 that can help me?!

The idea is to convert a multi-family building into condos; but not in the traditional sense where you separate pre-existing apartments into their own condos; but in a way where you combine the common areas of all of the apartments in that whole building, and turn the individual rooms within those apartments into condos themselves; thus transforming the hallways, kitchens, bathrooms, living rooms, dining rooms, porches, balconies into common areas of the condos.