Hello BP panel,I have a question about capital gain taxes -I recently sold my (3) multifamily properties, netting me about $500-$800k.I started with the intention of conducting a 1031 exchange (still ongoing with escrow and exchange accommodator) As I have not been able to find anything appealing in the current market (San Diego CA) I'm tempted in exploring the option of keeping my gains cash and look patiently for an opportunity.However I'd have to pay taxes on my gains -could anyone recommend q strategy or an experienced CPA how can review my case to minimize tax payments.

The taxpayer who is completing the tax-deferred, like-kind exchange transaction.

Once you do the rehab, the tenant could pay the back tax payments and after 24 months your cash flow would be pretty good.

Some taxpayers file returns without payments and go on an "installment plan".

-Investment real estate to investment real estate only-45 days to identify and 180 days to close on the new property-The taxpayer who sells must be the taxpayer who purchases.Within these 6 requirements are a myriad of twists, hurdles, and gotchas. 

@Craig Orput, The tax payer needs to be consistent through the 1031. 

Appraisal - Is an estimate of value by a certified (MAI) and dis-interested 3rd party - The appraiser.Assessment - What govt bases your tax payments on and usually not even close to value,  In OR, your TAV got set in 1990 and can only go up 3% per year with VERY FEW exceptions.Actual price - What a willing seller and buyer agree to sell for, prob the closest to the true value.  

The requirement is that the "taxpayer" acquire an interest in real estate, which can be a direct interest in real estate but could also be through a single member LLC, Delaware Statutory Trust, Land Trust, etc., since these entities are disregarded entities for tax purposes.  

If the referees (or referee and umpire, any two votes) make their decision within the time limits of the statutes, then the investor and the taxpayer are bound by the number for the improvements. 

I will say that since the bonus depreciation is taken at a taxpayer's marginal tax rate and the 1031 exchange is deferring at the capital gains rate (usually lower), the bonus depreciation can actually be better than the 1031 exchange in some cases.