Be prepared for that.

Reverse exchanges may be possible for experienced well capitalized investors but for most, I would say it’s not really a practical option.Mike’s suggestions of being prepared and proactive is a good one.I encourage 1031 investors to start looking ASAP - get to know the market - identify potential buys - and start making offers - before one has sold their existing property.The issue becomes will a seller especially in a strong market accept your offer “contingent upon the sale of your property”?

Have your agent meet the appraiser and prepare and appraisal packet

If you were me, how would you prepare for this networking event?

When you do buy a property, will you be prepared to manage it properly and prevent major losses by making rookie mistakes in the most heavily regulated state in the union?

Would be called a joint venture .

Rather, it will be considered earned income... and if you have losses especially the first year with a bunch of start up costs and depreciation... and if your money is at risk (let's assume Yes), then this business venture can offset (or add) to your W-2 income.This is how short-term rental loophole works.

Develop a Financial Plan: Determine how much of your equity you're comfortable investing and create a budget for your real estate ventures.

I'm going to be renting out my master bedroom to a roommate and want to be sure I'm legally compliant throughout the venture.

When preparing for the appeal, gather all documentation that supports your case, including the recent appraisals, receipts for repairs and improvements, and any other relevant documents.