I find 1031 exchanges incredibly tough to pull off effectively.  

Given the current market in LA, I'd love to hear everyone's thoughts about moving back in and fixing it back up to sell, moving back in and taking equity out to buy an other property, selling it outright with a 121 Exclusion, or doing a 1031 Exchange and swapping it for another multiple homes on a lot situation, in which case we'd live in one. 

Since the 1031 exchange failed, you’ll owe taxes on:Depreciation recapture (~$112K) taxed at 25%.Capital gain (~$80K) taxed at 15–20%, depending on your income.To offset the depreciation recapture, you’d need passive losses.

This is the precise job that you and all of our 3500+ owners have hired us to do.

You can’t use “strangers on the internet” as your defense against the IRS invalidating your exchange. 

You’re spot on: BRRRR still works, but it definitely takes precision now more than ever.We’re finding deals through a mix of cold outreach, local wholesaler relationships, and MLS agents who understand what investors are looking for.

I’m looking to add value to an existing team—whether it’s underwriting deals, helping with investor communications, or supporting asset management—in exchange for hands-on experience and mentorship.

@Alex Frey, you're in great shape to do the 1031 exchange on that property. 

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

Quote from @Dominic Mazzarella: This is precisely what renters insurance is for.