Can I file a 1031 on a property that is generating income?
[{"id": "eljbqtk", "text": "Of course.", "replies": [{"id": "eljc6b3", "text": "I thought so, but wasn't sure", "replies": [], "depth": 2}], "depth": 1}, {"id": "eljd4zu", "text": "As long as you buy a property that is \"like kind\" which pretty much means anything but a primary residence.", "replies": [{"id": "eljft7l", "text": "What about if it's a storefront but I upgrade to an apartment building?", "replies": [{"id": "eljjnzd", "text": "Real estate is real estate.", "replies": [], "depth": 3}, {"id": "eljtla6", "text": "Yes that will almost certainly be allowed.", "replies": [], "depth": 3}, {"id": "eljuzl7", "text": "you'll be fine as long as you follow the rules.  Or do  a 453.", "replies": [], "depth": 3}, {"id": "elkffwy", "text": "Should be fine. You'll have to have a qualified intermediary to hold your funds while you buy the replacement property. I'd consult with them before you do it.", "replies": [{"id": "elkinpa", "text": "Thanks,  I was wondering how that worked (I haven't found a broker yet).", "replies": [{"id": "elld5v7", "text": "your broker will be able to recommend someone (or if not, maybe thats a sign you want a different broker).  If you want to skip that step though you can google \"my city 1031\" and find someone who handles the 1031.  You may also ask you CPA, attorney, or title company if you have those.  Any of those people may be one their self or if not they would probably be familiar with this enough to suggest someone.\n\nThese aren't particularly hard, but they do have fairly strict rules and deadlines, so you will want to be familiar with that and make sure your broker is as well before you really get into it. This isn't something you look backwards and try to do, you generally want to plan the process around it.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "elmjkos", "text": "Yes but call a lawyer experienced with it. Also avoid getting wrapped up with a TIC syndicator, those guys are all BAD NEWS", "replies": [{"id": "elmjmze", "text": "Thanks for the advice,  this community here is awesome.", "replies": [], "depth": 2}], "depth": 1}]