Hi Bigger Pockets Community,New member here...Im looking for some advice on whether I should be classified as a REPS or not for 2023 Tax year as my CPA isnt much help on determining if I should make this designation.

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

My wife and I are tossing around the idea of selling our current home and buying a duplex, moving into the vacant side so we can purchase with less money down and begin our investment journey.here are the details:Sale Price: $250,000both sides are 3 bed 2 bath with one car garagethe listing says the occupied side rents for $1,100location i would classify as high C low B, mainly because everything around is rentals.2853 Hemlock Ct Cape Girardeau MOThoughts, Advice would be greatly appreciated!

Do I need to rent the condo first in order for it to be classified as a rental property before starting the 1031 process?

Would you still classify it as B and C mixed area?

I found one in the local classifieds. 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.We've also classified Metro Detroit Cities & Detroit Neighborhoods, PM us for more info.What else can we assist you with?

Hi Boffill, since you're out of state and in person events to find PMs may be difficult I'd suggest also posting in the classified section of Bigger Pockets to see if you can find someone good that can help!

Ive found "721199 -All other Traveler accommodations (SIC 7011)" to work under the short term rental area as well as the "531110 -Lessors of residential buildings" to also fit.

Hi Julie, I'd recommend posting in the classifieds section of BP.