There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

However, by staying on top of project management and maintaining clear communication with contractors, we overcame these challenges.

The same type of property usage needs to be maintained to qualify for the 1031 exchange.Also, be aware of the time limits involved in a 1031 exchange.

With its inviting curb appeal and well-maintained landscaping, 17 Penny Lane stands as a testament to both style and practicality.Upon entering, you are greeted by a warm and welcoming atmosphere that flows seamlessly throughout the property.

I also maintain a full time day job.

As for what I had visioned - I would be managing the property myself from afar, while paying a local cleaning service to maintain the property.

With the HOA payment at the condo, I don't pay any utilities, I don't worry about landscaping or maintaining the multiple pools, hot tubs, lazy river, etc.  

Account ClosedThe challenge for any PMC is trying to keep ALL their owners happy - despite owners having various approaches to maintenance ranging from:1) Slumlord2) Over-improving like they will live thereOur best approach to all this is to, "Maintain to the Neighborhood". 

The IRS typically requires the same entity that performed the 1031 exchange to continue owning the property to maintain tax deferral.To avoid any unintended tax consequences, it’s crucial to consult with a 1031 exchange expert or tax advisor before dissolving the LLC or making any distributions.

The expense of maintaining a “doctor’s building” is different from another building.