I heard only rental properties qualify for 1031, but not flips.

Hi Karen,I belong to MN exchangers group,Its the only group that I am aware of that is owned and run by the members.Come check it out on April 5 as my Guest.http://mree1031.com/

---------SERVICE ANIMAL AGREEMENT(Addendum to Rental Agreement)The Month-To-Month Rental Agreement (the “Agreement”) dated_______________________ between __________________________________________________________________________, as Landlord and ________________________________________________________________________, as Tenant of real property located at _______________________________________________________, is hereby amended to include the following terms and conditions: The rental agreement specifically prohibits keeping pets and animals without Landlord permission; Tenant agrees to follow these terms and conditions in exchange for permission to keep a specific animal:Conditions for keeping a service animal:_____ Tenant has a confirmed disability as documented by a qualified professional._____ This specific service animal provides a necessary service specific to Tenant’s disability.Name of animal: ______________________________________________________________________Description of animal: ___________________________________________________________________________________________________________________________________ (type, breed, color, age)Veterinarian: _________________________________________________________________________Emergency Caretaker: __________________________________________________________________Tenant agrees to:1.Provide proper care for the animal in accordance with veterinary recommendations or ASPCA (American Society for the Prevention of Cruelty to Animals) guidelines.

He is moving and wants to reinvest the proceeds In another property, not yet identified, using a 1031 exchange.

I will exchange them for larger Multi family properties at that time and start the whole process over.When I intend to submit an offer I am basing it on my ARV.  

They all cash flowed and of course he rode the appreciation wave from 2011 until 2016, but has since liquidated ALL properties and did 10-31 exchanges into larger apartment units OUT OF STATE.

There are tax hurdles that a 1031 exchange doesn't really fix due to not being able to sell all the properties at the same time. 

In general, in a 1031 exchange the adjusted tax basis for the relinquished property becomes the tax basis for the replacement property.  

Went under contract on my current one FSBO in 3 weeks.I am careful with taxes though.  2 houses is my max per year if not exchanging. 

And whatever path is easier to do a 1031 Exchange down the road.