The knowledge sharing is very powerful.

Even though we did not get a direct hit we encountered a storm surge that reached 5 to 8 feet in some area.

Hello BiggerPockets community,My wife and I purchased a house in Katy, TX a few years ago for $230k, right before the market surged.

My STRs are a few counties south of Asheville and lost power for a week.

If done this way, the investor could use this as a powerful tax strategy to spread the taxable event over years, lowering the effective tax rate faced from the taxable events.I have heard professionals compare it to an installment agreement, but with more control.

That's a powerful story @Jeremy Beland! 

The damage to the property can be handled over the next several weeks (large tree on roof, landscaping destroyed), though it is unclear when we will regain power and water (potentially weeks beyond repair?).

Like Account Closed mentioned this gain is made up of two parts - capital gain and depreciation recapture both taxed differently.The 1031 will be a powerful tool for a planner like you. 

Very powerful! 

We were without power in a mess here in SC.