Residential SFR 1031 to Commercial Purchase?
I am looking to harvest some SFR equity in Q1 2017 from an investment property I've held for 5 years. Ideally, I'd like to move the gains into a 10 unit commercial property and pull out my initial investment. I already have an LLC for my SFRs and Plexes and would like to use that business for residential commercial multi family.
My question: Is there any possibility of moving the gains (about $250k) from the SFR into the commercial building purchase via a 1031? As you can imagine, I don't really want to pay gains on the $250k.
Thanks,