Can I use proceeds to 1031 into a syndication deal?
I haven't seen a post on this (but it may exist). Thanks to opinions and analysis from the BP community we are selling our ‘poor deal' SFH investment property in NC and after improvements and fees we will realize about $20-$25k in gains.
A few questions: (1) is it too late to do what is needed to turn this into a 1031 exchange situation (we close on 8/30)?
(2) I think the answer to this is NO, but can we use these proceeds to invest in an apartment syndication? Or a note investment?
(3) Since I’d prefer not to invest in real property - does that mean we just pay tax on the gains and take what remains into notes?
Thanks to 1031 experts.