Consider consulting with a real estate attorney or financial advisor who can provide guidance on the best course of action, especially regarding your plans for the 1031 exchange.

Don't shy away from consulting with real estate professionals who can offer insights and guidance.Step 6: Property ManagementDecide on your management approach.

I have owned numerous businesses spanning 37 years, including marketing and management consulting, lawn care, landscaping nursery, horizontal directional drilling, heavy construction, and reclaimed wood.

Additionally, research the local market dynamics, economic indicators, and property management options to ensure you're making an informed decision.It's also a good idea to consult with local real estate professionals, property managers, and investors who have firsthand knowledge of the market and can provide valuable insights and guidance.

Property development- applying for well permits with the State of Colorado, working with architects, water attorneys, civil engineers, consultants, Douglas County planning and zoning, and Cherry Creek Watershed Authority.

Not only that but I also would like to connect with everyone, investors, private lenders, loan officers, tax consultants, attorneys, contractors, property managers ETC.

You might want to consult with a real estate attorney or financial advisor who can provide personalized advice based on your specific situation and objectives.Overall, while there are advantages to holding properties in an LLC, there are also considerations to take into account regarding financing and other factors.

Consult with friends, relatives, coworkers, and other real estate investors to get their opinions on various lenders.

Again, consulting with a tax professional can help you navigate these rules and optimize your tax strategy.Ultimately, the decision to sell your rental property should consider various factors beyond just tax implications, such as your long-term financial goals, cash flow needs, and overall investment strategy.

Of course please consult with a lawyer to make sure, but this is what I've learned so far.