check to see if there is still 179 on airplanes.. and then put it in the rental fleet at a very good FBO and then use it when you want to visit your new holdings your 1031 into.. buy RV's and put them in rental fleets.most syndicated RE projects these days will have some tax benefits.. just musing here.. 

That can hurt your cash flow and could equate to the same as a traditional long term hold without the headache and management.I'm not saying don't do it, I'm saying you have to look at all options. 

However, we also recognize the time value of money, so while it might pencil out to turn a profit, but we get an immediate payback versus a six to nine month holding time, it might make more sense to sell them both as bare land.  

Usually when I am in these situations Its me holding the money..

Quote from @Timothy Franklin: @Trevor FinnI would agree with your breakdown, but why overlook a potential to run the 91k subject-to with a targeted 6 month hold for flip or 18 month refinance?

Natural appreciation usually takes holding the property for at least a few years (just depending on what the RE market does going forward).  

Many people don't realize that you gain as much or more net worth through debt pay-down, and while it's less liquid than cash flow, over a 5-10 yr hold period it's considerable if you buy in the right areas with the right asset class.

With an $800k ARV and $500k purchase price, your gross margin ($300k) shrinks significantly after adjusted reno costs, holding costs, commissions (~$90k+), and closing costs.

.: Quote from @John Williams: Here's why I don't like the 1% rule...A buy-and-hold investor should think long-term. 

Are you comfortable analyzing ARVs, purchase price, 70% rule, rehab costs, holding costs, etc