Intangible assets like goodwill or tangible personal property (e.g., equipment) are excluded from 1031 treatment and are taxed separately—goodwill is typically taxed as a capital gain, while equipment may be subject to depreciation recapture taxed as ordinary income.To minimize taxes on the sale of the business, consider strategies such as Opportunity Zone investments, which defer gains until 2026 if proceeds are reinvested in a Qualified Opportunity Fund (QOF), or structuring the sale as an installment agreement to spread taxable income over multiple years.

That complicates enough I'd consult with an entity/asset protection pro.I don't hold residential assets in LLCs unless partners got involved. 

And my only asset is that I am under 30, single and can move to any place to make my dream come true.

ASSET BASED LENDINGNote: Hard money is defined as average loan size under $2M, average loan hold duration under 2 years, and not a bank. 

Even though I wasn't a good asset manager, I made money on my properties. 

Stack up the cash flow and dip into that as needed to support the asset.

My question is, would selling this asset now to clean up all my personal debt (~$50k) with the leftover used to reinvest be my best move currently in your opinion?

However, full site visits, though more expensive, maximize tax savings by capturing every depreciable asset and offer better audit protection.While online studies may be suitable for simpler properties, full site visits are ideal for complex or high-value properties.

Esprit: I guess the first assumption is - you still have the asset under the entity right? 

Prices have increased (higher terms/rates) as the fed rate has gone up so you have seen people who could get 8 or 9% now in double digits.