Should I do a 1031 Exchange or not
So I have a house that I purchased from another landlord in April of 2015. I purchased the property for $17,600 but I currently owe $19,664 on the house. Well a few months after buying the house the tenants that I "inherited" stopped paying so I ended up having to evict them. Now I have a cash offer from the neighbor to purchase the home for $28,500 so I've decided to sell it to him because its a one bedroom house that probably will be hard to rent out anyways. Should I do a 1031 exchange or not on this because I know its costs some money to do a 1031 exchange. Please help!!!!