Sell a rental and 1031 exchanging it into a Mobile Home Park
This year we are going to sell a rental we have and 1031 exchange it into a Mobile Home Park.
As many of you know it's quite a juggle . . . 90 day notes to my tenants, then dust off the property, sell the property (selling will be easy it's a hot market), 45 days to identify three MHPs of interest, and 180 days to close on one of the three MHPs of interest.
It's that 45 days to identify three parks of interest and then having to close on one of the three -- that concerns me. I think it took Brandon about a year to find his deal. I've also herd Jefferson Lilly say something about a year time frame too.
Would anyone out there have any advice on how to handle the juggling of this timeline? I know there is a way to do a reverse 1031 where you can do some of the steps in reverse, which might make it easier but I think you have to come with a lot of money up front and I don't know how feasible that it for us.
Thanks