After looking into this a bit it seems like there is a rule of purchasing a "like" property to what was held?

Let's be very clear: The NAR Settlement is a cluster 🦆 for investors and brokers alike.

This strategy allows investors to defer capital gains taxes when they sell an investment property, provided they reinvest the proceeds into a like-kind property.

This is indeed a widely debated topic amongst many tax professionals and investors alike, and an entire novel could be written on the best method to use.  

There are several compelling reasons why this region is becoming increasingly attractive to investors and businesses alike, and if you’re considering putting down roots—or even just exploring opportunities—this might be the perfect time.Thriving Industries and Big Business InvestmentsThe economic landscape in Louisville and Southern Indiana is robust and diverse, with several industries driving significant growth.

My career is inherently a career of repeat conversations as I do the same transactions and processes over and over but this one always comes back and I felt like it was a worthwhile post to help clear the air for both lenders and clients alike :) 

@Ali K.

Then tenant who stays and refuses to pay the new rent leads you down a likely eviction path, then into a turnover.

As of 2024, the bonus depreciation is 60% (subject to change pending the passing of laws) which allows you to immediately depreciate 60% of the asset’s cost.1031 ExchangeA 1031 exchange is a tax-savings strategy that allows investors to postpone paying capital gains taxes upon the sale of an investment property by reinvesting the proceeds through the purchase of another property (i.e. a like-kind exchange).

Even if you have to travel a couple of hours, you have a much better chance of finding someone.How to approach a mentorOnce you've found a likely candidate, it's time to reach out and ask.