-Brit

That could cause a reclassification of that property into inventory and you could be subject to ordinary income tax including self employment and the full depreciation recapture you've carried forward.While you're in the planning stages there are some things you can do with entity structure that could still leave the 1031 available to you.  

This helps especially if it's a long term buy and hold because the appreciation would be treated as a long term capital gain rather than ordinary income.

While viewing the occupied units we didn't come across anything out of the ordinary so fingers crossed it'll be a smooth transition. 

Well, your profit from a flip is not capital gains, it's ordinary income and subject to self employment SS/MED also of 15.3 %.

If you wait until day 366, it will turn into a cap gain instead of ordinary income.  

I'm sure most of his neighbors thought he was just an "ordinary businessman".Schweeeeeet!

Its not out of the ordinary to contact an agent and ask for recent sales data for the area you are looking for for the past 12 months. 

Now, it is an actual expense to you, but since it is figured into your cash flow calculus it becomes ordinary cost of doing business.

First, it's not gains....it's ordinary income, with self employments taxes (SS/med).