Investment Info:

Small multi-family (2-4 units) buy & hold investment in Saint Louis.

Purchase price: $90,000

Cash invested: $50,000

Sale price: $289,000

4 family building purchased in distre...

I cleaned it up, took pictures, posted it for sale, fully expecting to use Section 121, as recommended all over this forum, instead of doing a Section 1031 exchange, which I had originally planned to do before asking about the Section 121 law on this forum!!

But I have been looking into splitting the duplex into two condos (yes I know it is a lot of work) and I could probably get 325-350k for each, netting me 650-700k.Number:* Mortgage interest 2.5%* Mortgage principle 240k* PITI $2100/month* Rent 2200/month (current tenant on a two year lease)* Potential rent on my side $2400/month * 100k HELOC at 11% (fixed) (not currently being used)* est additional cost to split the dueplex 75-100k (conservative, probably less)     *new siding 30k (just put on a new roof this year)     *legal 10-15k     *fire proofing 15k     * 15-40k for stuff I am not aware of or underestimated on* some of the appreciation is external from the home     *big grocery store put in 3min away     * newly paved road in front of my house     *a building that was falling down across the street has been torn down          * Still a vacant lot with the foundation exposed and fencing around it (so more local improvements are on the way)Part of me wants to take the money and run but man I love that 2.5% interest rate and the $2000/month cash flow (including taxes and capx)I have thought about 1031 exchanging into more rentals, but I would like to pivot into storage units.

@Joe Vigurs  You can do a 1031 exchange on any type of investment real estate.

You might consider doing a 1031 exchange and selling a couple of your properties that are cash flowing the least amount and buy in a market that is more conducive to cash flow. 

Many of our buyers & sellers use 1031 exchanges. 

So showing the loan on the HUD/Settlement Statement when you close is highly recommended.Now, I'm not sure what "1033 requirements" you are referring to....did you mean a 1031 exchange?  

Also I was wondering if you could refer any note brokers, services and loan exchange businesses?

Can it still qualify for 1031 because the rule is u have to live in it or rent it for 2 out of 5yrsSecond, if I buy a property, renovate it and sell within 3/4 months, can it qualify for 1031 because I heard u have to hold it for 1 yr.Is coop sale and exchange with purchase of single family home "like kind" of exchange?

Purchase price: $465,000 Cash invested: $125,000 Four Family Property bought in an exchange, was in fantastic condition with just one unit that needed to be made rent ready.