However, purchasing the replacement property from an estate where your mother-in-law is the executor and other heirs are your wife's aunts and cousins raises potential related-party concerns under Section 1031(f).The IRS generally prohibits 1031 exchanges between related parties unless both the buyer and seller hold their respective properties for at least two years after the exchange.To stay compliant and avoid disqualification, ensure:The estate sells the property directly before any distributions to heirs.You hold the replacement property for at least two years.The transaction is conducted at fair market value with no prearranged agreements.Given the IRS scrutiny of related-party 1031 exchanges, consult a qualified CPA or 1031 exchange accommodator to structure the deal properly and avoid potential capital gains tax liabilities.This post does not create a CPA-Client relationship.

Consulting a tax professional before making use changes can help maximize deductions while staying compliant.This post does not create a CPA-Client relationship.

As another rookie, this was such a helpful post.

Great post as always Don.

Quote from @Josh Deschene: Hello All,This is my first post and I will try to summarize as clearly as possible.

Hi This post is old but if any one of you can share if you got lenders that can finance less than 100K?

It has been sold to Inspira.For those who are interested in some background, here is today's public Facebook post from  my friend John Hyre, the brilliant tax attorney well known to most real estate investors, one of the keynote speakers at every Quest Expo.

*This post does not create an attorney-client or CPA-client relationship. 

Not likely.Maybe some of the tenant acquired their own washers and are using them for cleaning but your dryer for drying.Get a security camera and mount it in the area and post signs saying the same.

I selected Lewiston for the post as I didn't see an Augusta option, but I do work all over the state.It was my family's property management business that brought me to Maine and sparked my interest in and passion for helping investors achieve their goals.