Hi everyone,I’m exploring a potential investment and would love any insights from those with experience in similar properties.

If you are worried about this there are companies that handle servicing these payments automatically on a scheduling system if you have a bunch of them. 

SPECIAL RULES FOR SECTION 1031 LIKE-KIND EXCHANGE TRANSACTIONS, page 135 states:". 01 Taxpayers are provided the relief described in this section if an IRS News Release or other guidance provides relief for acts listed in this revenue procedure (unless the news release or other guidance specifies otherwise)..02(1) The last day of a 45-day identification period set forth in § 1.1031(k)-1(b)(2)(i) of the Income Tax Regulations, the last day of a 180-day exchange period set forth in § 1.1031(k)-1(b)(2)(ii), and the last day of a period set forth in section 4.02(3) through (6) of Rev.

We have a buyer for the property and now it has been discovered that the corporation paperwork was submitted to the state as a charitable contribution even though we are listed as a not for profit organization and have been listed this way for well over 40 years.

Quote from @Gio Kattan: I would check with a local realtor that are doing deals in this area and local PMs in the area that deal with STRs to give you the answer on that! 

This is also tax deductible.

This will be baked into our website policy.

Situations like this I would have done a WT before offering.

The big question...dscr refi this rental or sell it? 

Does anyone have experience with this and have a suggestion of which to go with?