Hi Robert, your situation sounds exactly like another gentleman I am working with right now and helping with his 1031 strategy and execution.

Are you adjusting your strategy as rents decline?

However, I wouldn't say it is a complete tax-free strategy. 

Hi @Jerry Nogueras that depends on your goals and how open minded you are to different strategies. 

One strategy is to pursue properties (in your preferred markets) that have been listed for sale for over 90 days (even longer is better).

Chicago, with its vibrant neighborhoods and strong rental market, is a prime location for this strategy.

My primary strategy is Fix and Flip, and I bring a DIY attitude to every project.

It can be very easy to get tangled down in the weeds of all the different strategies.

We are not real estate professionals.1) How would you handle the classification of the property in the 2023 tax year and would you utilize a STR depreciation strategy?

I'd love to find some other people who are currently invested with Fairway America and - ideally - in this exact investment.Thanks,Matt BrownFairway has put out a ton of deals in a variety of real estate asset classes and strategies.