Space is attractive, with a large atrium in center that provides an open, light-filled, airy feeling. 

That sale might qualify for tax free treatment with no 1031 needed which would make the decision a no brainer.

(PS - don't forget the influence of the local Historical Commission, aka the Hysterical Commission)That said, renovations make the most sense when they are similar in the level of finishes to the homes around them.For example, Brockton (especially center-east) is an area that you would expect Kenmore or Frigidaire. 

If your QI holds your proceeds until the end of your exchange period you will not receive the funds and recognize the gain until 2019 if your accountant reports it on 2018 tax return with installment sale treatment. 

My question is more centered around the demo/framing portions of the projects.

Find a local broker that is doing retail leasing or sales in similar type centers to help you.  

And rehab and treatment of back willbe more expensive than not having a job.

Hi all,Been on the house hunt this year for my first property, a duplex in Austin for a house hack.Obviously it is very difficult to find a cash flowing rental in Austin proper; but, we're not really interested in moving out too far from the center of town, for lifestyle reasons.Looking at one potential property, and it looks like, factoring in net rent from one half  of the duplex, property would 'cash flow'  -$2000/mo (FHA loan, 3.5% down). 

You are correct that the tax treatment of Airbnb business (emphasis on "business") is distinct from other forms of real estate investment - and that you should get clarity about that to incorporate into tax planning and investment ROI analysis.

Rul. 8429039, provided that a two-year holding period is sufficient to ensure treatment as a tax-free exchange (all other tests being met).