Updated over 8 years ago on .
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Rolling into new construction
My dad is currently looking at selling a house he inherited. He has been renting this house out for a few years now and is ready to sell. He wants to do a 1031 exchange to roll this into a new property. I have two questions:
1) Could he use a 1031 exchange to sell this single family rental home and use the proceeds from it to purchase modular rental units (Honomobo) that he would place on property that I own? (we would be open to any creative ownership structure that would allow this type of arrangement).
2) Provided #1 isn't feasible, could he use a 1031 exchange to buy another rental property with him and I acting as co-owners through an LLC?
Thank you!