Ask @Dave Foster for any 1031 questions…But I’d start with these…Are you planning to pay all cash for the replacement property since it will probably be either impossible or expensive to get the loan in the LLC’s name.Why are you putting the property in an LLC?

Make sure you’re approachable and responsive to tenant concerns to foster a good landlord-tenant relationship.Legal and Compliance Issues: Familiarize yourself with local landlord-tenant laws and ensure that you’re compliant with all regulations.

@Dave Foster can help you out.

Oh and listen to @Dave Foster, he knows a lot and was my go-to guy for the 1031 exchange we did! 

With this being said, the fear of being "tied" to all of these potential problems - definitely fosters hesitation and in many cases - no action.  

Thanks @Dave Foster.

Investment Info:

Single-family residence buy & hold investment in Cape Coral.

Purchase price: $175,000

Cash invested: $34,000

Sale price: $750,000

Single family Vacation rental direct sail bo...

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $175,000

Cash invested: $34,000

Sale price: $750,000

Single family Vacation rental direct sail boat access. Pu...

In real estate (and life), the "under promise and over deliver" principle is crucial for building trust and fostering long-term relationships.

Quote from @Dave Foster: @Bob Asad since you've lived in it for the two years you could potentially qualify for the 121 exclusion, giving you $250,000 of the gain tax free ($500K if married) like @Jeremy Ellis said.