You need to define FMV and the procedure to obtain it, there will be disagreements on the calculation, time periods, cost allocations, closing date, etc.

Every contract can allocate these items differently.I would also factor in property tax allocation based upon July - June tax year.

Hi @John Rossi, Tax advisors generally allocate the deferred capital gain and depreciation recapture between the three (3) replacement properties acquired on a prorata basis. 

They are great at illustrating where your money goes and what affect it has when you allocate some extra payments to this or that debt.

But in general any type and number of investment real estate.One strategy that might benefit them is to take the proceeds and allocate them in the 1031 where they buy a number of replacements for cash. 

You need to allocate expenses between them.

I personally use M1 Finance because I set the target allocation for each of my funds and as dividends are distributed it works to keep those targets on track.

Some of these younger folks have a team who invest for them, and I want to reach out to these team members who allocate the profits into assets.

If you are the PM you should still allocate for the associated effort.  

They will probably want as much allocation into FF&E (furniture, fixtures, and equipement - the non-1031able parts) so they get quicker depreciation.