I would categorize it as more as both political parties doing some potentially unwise things in respond to COVID and election cycles. 

Some carriers will allow you to elect ACV (actual cash value) coverage, but you have to be aware of lender requirements and coverage concerns that come with this type of policy. 

@Sue K. noted the issue for Calif - - can't ask and it is NOT a reason to deny.Seems to be a BI G issue in this elect year BUT . . .My screening process requires a Credit Check and that requires a SSN. 

Brown failed to avail herself of the service electing, instead to forego payment for the services provided.Therefore, the role and labor of any sales team became a commitment of Ms.

Do not put long term holds into Sub S elected LLCs or corporations. 

The reason I mention this is there may be a time constraint on wanting to complete all aspects of this transfer of tax basis prior to the election.  

Brown failed to avail herself of the service electing, instead to forego payment for the services provided.Therefore, the role and labor of any sales team became a commitment of Ms.

You may pay more for this sleep aid.As is now clear from Prop 19 and the massive forecast budget deficits at state and local levels, Prop 13 remains a huge target for state and local electeds. 1031 exchanges seem to be impaired by Prop 19. 

A failure to make a 754 election will result in the basis not getting a step-up."

This year’s election will be very interesting with all these crazy housing laws going on for both STR and LTR!