They make so much money from jacked up tuition rates that have been guaranteed by the federal gov't circa 2009. 

@Jeb Shookman - my guess would be it’s in direct correlation with how long the federal governments allows banks to defer payments on behalf of their land lords.

So that amount would be taxable and you would shelter the rest of the gain in the 1031.

If its just you, then you have a single member LLC which by default at the Federal level is a disregarded entity meaning you don't file a separate return. 

Is it federal or regulated by state?

Also, with stimulus checks coming out and generous federal boost to unemployment, the reality is MOST tenants should still be able to pay rent.The only reason not to do deals now is if you're cash strapped or highly leveraged and one month's missed rent would be your doom. 

Any resident who is not willing to abide by the lawful public health orders of the City of Colorado Springs, the State of Colorado, or US federal government agencies may immediately terminate their lease with no penalty.

We are here to work with you and will provide information on the many federal and state resources as they become available.

However, I have heard of Bank Fraud and that sounds like FEDERAL TIME to me. 

I've recently moved to the DMV area while working as a technical consultant for the federal government within real estate for GSA (General Services Administration).