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1031 Exchange Question
Hi. First post here. Here is my scenario; I own two lots of land. I want to put an offer in on a 3 unit apartment building. My question is; if I buy this apartment building and then 2-3 months down the line sell the land, can I use a 1031 Exchange to go toward the apartment purchase? Or will I get hit with capital gains?
Thanks in Advance,
Jeff