A Section 1031 exchange, often referred to as a “like-kind exchange,” allows for the deferral of capital gains taxes when you reinvest the proceeds from the sale of real property into another real property of like kind, used for investment or business purposes.Unfortunately, you cannot use a 1031 exchange in this scenario because the sale of a primary residence and the purchase of a small business do not meet the “like-kind” requirement.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Then it just depends on what's in the contract, which likely had no contingencies.

Down payment will depend on the bank, but generally an investment property will need a commercial loan.

That means you have virtually no experience in Real Estate.  

I recommend scheduling a call with a real estate lawyer.

We have a good CPA who is a real estate investor.

Hello everyone! I am looking to meet new investors and ones that are looking to sell property.

Hello, Would like to understand how the Bella Vista Arkansas real estate market is doing?

I'd rather spend time meeting people and fostering real relationships than driving people bonkers with cold calls!