Intangible assets like goodwill or tangible personal property (e.g., equipment) are excluded from 1031 treatment and are taxed separately—goodwill is typically taxed as a capital gain, while equipment may be subject to depreciation recapture taxed as ordinary income.To minimize taxes on the sale of the business, consider strategies such as Opportunity Zone investments, which defer gains until 2026 if proceeds are reinvested in a Qualified Opportunity Fund (QOF), or structuring the sale as an installment agreement to spread taxable income over multiple years.

I personally think being a landlord in Chicago is easy and I have never had an eviction. 

Personal loan for renovations How did you add value to the deal?

@Lauren MerendinoI strongly believe that your chosen market should be somewhere that you can go to in person / have strong personal knowledge of / have family or a network in already.  

Highly suggest coming out to some of the local chicago IN-PERSON meetups! 

They actually have a licensed person in California.

We would want to use it for personal use probably one per year. 

A contract is only as good as the person enforcing it.

what kind of investment was/is this  a little more detail may protect others if you think this person is a financial predator.  

For mobile homes, it often depends on whether the property is considered real estate (attached to land) or personal property (if it’s not).