Get a CPA (not plain acct or bookkeeper) that has a resume and does/knows:1) Investment property2) Tax treatment of sameOn 2) that changes all the time and book-keeper types just don't keep up.

I can see these folks blowing up the corporate HQ.. of Blackstone.. pretty funny visual based on my extensive experience in the C class southern rental and renter.

There are many things that can actually be counted as real estate for purposes of 1031 treatment like Oil and gas interests.  

Visually, it looked as though 50-60% of some neighborhoods were up for tax auction.

Other entities - maybe.There is no statutory holding period that qualifies your property for 1031 treatment. 

I'm kind like making a comparison between the tax treatment of Real Estate Pro Status and Trader Status Pro:Stock/Futures Trader:- trader trading futures has a preferable tax rate instantly although one doesn't have trader status- For trader status, they could write down the unlimited number of losses instantly, it's not hard to attain trader status once the LLC is in place, one just need to display their trading logs.

S-corp & c-corp have different tax treatment when it comes to money distributed to yourself which is more complicated.

Like right now capital gains is 15-20% but in the future if we turn more liberal or a progressive changes capital gains taxes it might be as high as 40-50% So it's a good idea to do Roth IRA  or investing so you don't pay on future gains and get taxed now at lower rates An expectation of higher tax rates in the future compared to now (or when the contributions will be made) is a factor that suggests Roth treatment would be better than pre-tax.

But consider rather these benchmarks to follow when judging a given neighborhood.What I like to look at are the visual tangibles and emotional apsects of what appeals or doesnt unappeal to your senses. 1) Neighborhood Infasctructure: What are the condition of the streets and sidewalks.

Check out https://www.irs.gov/pub/irs-pdf/p925.pdf Publication 925: Passive Activity and At-Risk Rules for more info on that.The carpet IS tangible personal property (unless it's in the bathroom or something weird that changes it) with accelerated depreciation treatment, but because of the low cost it could be eligible for safe harbor: that depends if you've done anything else that qualifies for safe harbor and have high enough unadjusted cost basis since there are limits.