Date: Thu, 10 Oct 2002
Would it yet be possible to do a 1031 trade with a rental property for a just-constructed property (residence not built by me, the potential buyer) to be used for rental purposes? Or would it have had to be rented already?
Date: Fri, 01 Nov 2002
Yes, provided you donít use the property as a personal residence and start renting it shortly after the exchange is completed. (The replacement property can even have been someone elseís principal residence and converted by the buyer to a rental after the exchange is completed.)
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