It is absolutely needed -its one of the most critical components. 

But as Dominic mentioned this will be full doc Move your liquidity to that bank as deposits are critical to these types of lenders..

Investors should therefore exercise significant care when choosing their Qualified Intermediary because of the critical role the company will play in the administration of their 1031 Exchange transaction.It is extremely important to note that 1031 Exchange Qualified Intermediaries are generally not required to be licensed, regulated, audited or otherwise monitored by any regulatory body.

The other critical question is – whom do I need to send these 1099s to?

When we told her the next morning that it would take days to get new payoff letters and we would miss our rate lock deadline, she said it wasn’t critical and they could make do with what they had.

Quote from @Harrison Jones: Thank you for the great question—it’s a critical point to address.

Is this really a critical factor in seniors choosing retirement homes. 

When we told her the next morning that it would take days to get new payoff letters and we would miss our rate lock deadline, she said it wasn’t critical and they could make do with what they had.

Additionally, Chase Ink Business Preferred offers competitive travel rewards and may pair well with their banking services.Bundled Solutions: If keeping everything under one roof is critical, you might explore Silicon Valley Bank or First Republic Bank, depending on your location.

It's critically important to make sure you know the exact zoning in regards to minimum stay requirements before you go too deep into a property.