This site makes me believe that we should use a 1065 however since I am involved in the partnership.  

You mention not a fan of landlording, great, the bank never get's involved in that stuff right. 

I’ve been involved in real estate investing for over 30 years, so if you ever have any questions or need guidance, feel free to reach out.

The purchase and sale of a business requires a lot more personal involvement than the purchase and sale of real property.  

That said, you could go to the mayor and police chief and ask what steps were taken with the involved officers.

You have to purchase at least as much as your net sale and use all of your net cash.If the scenario involved a $450K sale. 

You're learning about the eviction process, tenant screening (never "word of mouth" again), the power of a lease WHEN not IF a neutral third party needs to be involved, tenant/landlord laws, and managing tenants who don't care about your business the way you do. 

They unleashed pandemic handouts and loan programs that greased the economy (this was not well thought out, contributed to the inflationary environment we are still suffering from and PPP and ERP loans were flooded with fraudulent loans and benefits)These programs leveraged existing corporate infrastructure (banks and the government had little or no operational involvement). 

Another one I wish I had taken earlier was to get involved with a boutique or specialized commercial broker. 

Calculating these losses involves documenting the fair market value of the property before and after the disaster, adjusted for any insurance or other reimbursements.