It's important that we take steps to ensure that the natural beauty of this area is preserved while still allowing for healthy economic growth.

Minimizing Taxes when Building and Selling Houses:Utilize cost segregation studies: These studies can help allocate the costs of construction into different asset categories, such as land improvements and building components, allowing for accelerated depreciation and potential tax savings.Take advantage of available tax credits: Research and identify any applicable tax credits for construction, such as energy-efficient building credits or historic preservation credits, which can help offset taxes.Consider installment sales: Instead of receiving the full payment for the property upfront, you can structure the sale as an installment agreement, spreading the tax liability over the term of the agreement.Utilizing a 1031 Exchange for Commercial Property: To utilize a 1031 exchange for a commercial property constructed on a pad site, you can identify and acquire a like-kind replacement property within the specified timeframe to defer taxes.It's important to meet the strict requirements of a 1031 exchange, such as properly identifying replacement properties and completing the exchange within the specified timelines.Creating a contract for sale after renting the property for a year may not satisfy the "held for investment" requirement of a 1031 exchange, so it's advisable to consult with a tax professional or qualified intermediary to ensure compliance.Converting Raw Land into Individual Lots:There is no specific requirement to hold lots for a minimum of one year in order to qualify for a 1031 exchange.

They are the most influential historic preservation group I am aware of. 

I would definitely suggest reaching out to city, state, county and look for historical preservation organizations that do grants for preserving older historical buildings.

Meaning if you started renting June 1, 2023 you need to close your sale by May 31, 2026 to preserve the Section 121 exclusion. 

Thankfully we could also preserve many of the original features of this home.

Keep in mind that if you put down less than 20% you'll need to pay PMI, but it might end up being worth it to you if the goal is to preserve capital for your next deal.

According to the property code, Section 34.21 you are only allowed reimbursement for expenses "for maintaining, preserving, and safekeeping the property" which would include insurance, legally-required repairs, payment of municipal liens imposed for health or safety reasons, HOA dues, and utility impact or standby fees. 

The ownership can preserved, but the execution simplified.This is not legal advice, rather an observation. 

It would stand to reason that they will want to preserve as much cash as they can until we get into June.