1031 advise for first time
Hello I am an investor that currently has 3 properties. I am going to be selling one soon and am trying to get my ducks in a row. The house I will be selling is going to be sold to my sister. I bought it a couple of years ago using a heloc on one of my other properties. I will be paying that off when I sell the house. I figure after paying that off I will end up making about $30000. I wanted to do a 1031 into another house in the Augusta Georgia area. My question is will there be any taxes on the money I pay for my heloc and what do I need to be aware of when finding my new house?