So you're right for wanting to do a 1031 exchange.

You cannot sell first and then start a 1031 exchange.

And you would pay long-term capital gains on the profit.If you did decide to rent out the property and sold later down the road, because you converted it to an investment property, you would be able to do a 1031 exchange and defer all of the tax and depreciation, to reinvest it into another property/properties.

Feel free to connect if you’d like to exchange ideas always good to grow the network with motivated investors

I’d be glad to connect and exchange ideas on mission-driven construction and real estate investing in Wisconsin.

My wife and I started by building our foundation by saving diligently and moving strategically to take advantage of better financing through primary residence purchases.Over time, we’ve used tools like the 1031 exchange to scale our portfolio, even relocating out of state to expand into new markets.

Always glad to connect with other managers in the space and exchange insights.

Feel free to connect if you want to exchange ideas or collaborate on projects

I am more than happy to exchange lunch or even potentially capital investment in your project (if you have a solid deal) for the knowledge.

Happy to connect and exchange insights on deals, risk management, and strategies in the market