Please advise on this property:72 unit apartment building in a cul-de-sac, built in 1978, all 1 and 2 bedroom units. 1 Bedrooms go for $375 and 2 bd for $425.Now they're asking $1,000,050 in a short sale.Their current occupancy is 15 out of 72 units.

DE allows a multi-entity LLC.

@Yonah Weiss did mine.Be sure that you and/or your CPA is using the $2,500 de minimis safe harbor for rehab and repairs.Conservation easements are an option but those are IRS listed transactions with a lot of audit scrutiny.The amount of taxes that many high net worth individuals pay is astronomical (40-50+%).

The land isn't in a great area, but for the pricepoint, I was thinking of doing nothing to the home and using the 4.9 acres as a solar farm. 

Right now I have 2 open slots, possibly 3keywords: delco, delaware county, philly, philadelphia, Montgomery county

We moved between comparable cities so its not like we jumped demographics or cost of living by a lot, though CoL in WA was more expensive than VA.If property taxes are whats killing you then move out of the big cities or start a cue de ta and take over the Seattle government.

Will I be required to have a condo association for example or possibly ordered to do a de-conversion or should the current owners do this?

Some clients explore Delaware Statutory Trusts as replacement property for some or all of the proceeds from the sale (or even a Plan B in the identification process).  

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Has anyone tried a DST or Delaware Statutory Trust for 1031 exchanges?