Taking initial investment out of 1031 exchange
example. CA property estimated sale price 1.8M. Initial down payment 10 years back 120K, recent remodel 400K, balance mortgage 300K. Given all this how much should be the value of property that I want to buy under 1031 exchange? (I understand that I need to invest up to or more than the net sale price but I question is about my investments that I have done over the last 10 years - not about reasonable cost of sales). Thanks,