1031 key points
TAX defer and potentially no tax
Likely-kind of investment properties
Identify the replacement property in 45 days after closing and close in 180 days
choose one from the 3 common rules for replacement properties
3 property Rule: Replace up to 3 properties with no limit on the property value
200% Rule: Replace as many as long as up to 200% of the fair market value. If any fair value change before the 180 days and over 200% will be an violation.
95% Rule: Buyer must acquire 95% of the total aggregate fair market value of all properties identified. This fair market value can be determined up to the day of closing or by day 180 of the exchange period, whichever comes first.