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1031 exchange versus flipping a newly acquired property
I own several rental properties. One I have owned for 25 years. I am about to buy a house in the same neighborhood to rehab and resale. I was wondering if, tax wise, if it would be smarter to rent the house I am about to purchase after I do some rehab to it and then fix up my other rental and sell it so I can do a 1031 exchange.