Selling a condo in Los angles and want to purchase out of state
I have a rental condo in LA and planning on selling it. It should get 300K give or take. I have a note of 118K. After accounting for improvements and depreciation I have a cost basis of about 177K. I am looking to acquire several properties out of state. I am concerned about the timing of having to find new properties within the 90 days of the sale. The type of cash flowing properties I am looking for may not stay on the market for long so I can't look in advance for the specific properties but I don't want to be forced to make a hasty decision on properties once the sale goes through. Also, do I only list properties after I have an accepted offer? Are there additional fees associated with the 1031? Is it possible to buy a property with cash if I find one before the sale is complete and then finance it as a 1031 exchange after the purchase is complete. What happens if I don't list or close on the properties in the required time? Thank you in advance for any information you can provide.