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?!

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I own one half, 3 bed 3 bath, and I’m currently living in and renovating it with plans to rent down the line.

Does anyone know of any other ways to gauge the effectiveness of this plan? 

@Cristal Ochoa @Leiah DotlichI will preface this with the fact that I have a legal background, specifically with estate planning and asset protection.

Plan for a smooth transition: Respect the notice period and prepare for any potential disputes.

A tax advisor specializing in real estate can help you navigate deductions, plan for 1031 exchanges, and ensure compliance with ever-changing regulations.

@Jaycee Greene I planned to approach the seller to explore the possibility of carrying a seller's note.

It takes time but worth it.How do you plan to finance your first property—are you looking at traditional loans, or have you considered other options like house hacking?

@Tonio PearceYes you should create a business plan.