Updated about 3 years ago on . Most recent reply
Nuanced 1031 rental home question
I am selling a rental house and am wondering if it is eligible for a 1031. I bought the house about 28 months ago as a primary residence (and financed it that way), but had a roommate live there and pay rent. I moved out after about 11 months and bought another house and continued renting the house out for another year and a half. I am under contract to sell it, and am wondering if this will qualify for a 1031. It was financed as owner occupied and I did live there... but I have had income from it since shortly after closing. If I want to roll this into an AirBNB via a 1031, can I do that?
Most Popular Reply
You will want to make sure you have a qualified intermediary before you close to hold your funds! What market are you looking to exchange in to?