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Posted by aether8203 on April 20, 2008, 10:20 am
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Good Day,
I am currently doing a fix/flip with a partner and we stand to profit
$100k after all is said and done. I have a few questions in regards
to 1031:
1) Can the money be used into another fix/flip?
2) Can you exchange it into raw land that you intend to build condos
on and rent?
3) When the IRS requires you to "identify" the property within 45
days, can it be a collection of properties if you are unsure which
property will work out for you?
Thanks all!
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