During the pending period, the appraisal came in below our offer price, so we renegotiated: I agreed to take on the roof repairs and close sooner in exchange for the seller reducing the sales price to match the appraisal.

Since I also work with a lending company, I see a lot of different setups in markets like this  feel free to connect if you’d like to exchange ideas

Since you don’t plan to convert the property into a rental, options like depreciation or 1031 exchanges aren’t available.Step up your cost basis: Add in eligible improvements you’ve made over the years (renovations, additions, even some closing costs).

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

I did this recently by offering a garage parking space in exchange for one tenant handling the lawn care and snow removal at the property.

We have 'buy-sell' detailed out in a lot of detail including; right of first refusal, how to calculate selling price, etc.... and 'survivors benefits' detailing if a member's heirs want to stay of or be cashed-out etc...Is seems to me that the time the TIC helps on a member wanting out is in the case of a 1031 Exchange, which HAS to have a 'real property' sale, not an LLC sale, which is shares in a company, not actual real estate.

We will be doing a 1031 exchange on these properties, and are looking to 1031 the rest into some triple net lease properties.

Feel free to connect if you’d like to exchange more ideas

We used traditional bank financing, but I also rolled in a 1031 exchange, which made it even more appealing.

As far as their value, they will always add value but not always a 1 for 1 dollar exchange since comps are normally limited in any market.