Long term hold - 1031 exchange.......or is this a FLIP?

[Brian Greenway]

I have a sfh that I've owned for over 3 years. It has never been rented out. But that was the original intent at the time of the purchase. Then life happened. Property was sitting on sideline. 3 years have passed -  the market changed, appreciation, etc. The remodel is done finally. Running the numbers it would make sense to sell it right now and buy a different (newer) property and rent the new one out. Question: would this property be eligible for a 1031 exchange? I know flips are not. But since the property has been held for so long, I would think it doesn't fall in the category of a flip......or does it?

Thank you!

[Michael Plaks]

@Brian Greenway - yes, it would qualify