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Updated about 3 years ago on .
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Can I 1031 a Long Term Rental to buy a Short Term Rental?
Hey there- I bought a deal six months ago that has greatly appreciated, and I have a buyer inquiring. If I get the right offer, I think I could sell this one and use the proceeds to buy a STR that cash flows $700/month more that I've been watching.
But is it legal to 1031 from a long-term rental that you've owned for less than a year into a short-term rental? Is this still a like-kind exchange?
Also - we would want to use the STR sometime as a family. Probably less than 4 weeks/year, renting the other 48 weeks or more.
Any advice?
But is it legal to 1031 from a long-term rental that you've owned for less than a year into a short-term rental? Is this still a like-kind exchange?
Also - we would want to use the STR sometime as a family. Probably less than 4 weeks/year, renting the other 48 weeks or more.
Any advice?
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Ashish Acharya
#2 Tax, SDIRAs & Cost Segregation Contributor
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Ashish Acharya
#2 Tax, SDIRAs & Cost Segregation Contributor
Tax & Financial Services
Pro Member
#2 Tax, SDIRAs & Cost Segregation Contributor
- CPA, CFP®, PFS
- Florida
Yes, you can. You have to manage your personal use.
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