1031 Is it negated?
Client received Condo in Florida with rules by the association they could not rent it for 1 year. They are not doing a vacation rental and want it to be a full time rental after the 1 year mark. Yes the intent is for it to be investment. Then throw in the kicker of renting to family member for a month and then just going to let it set. did they negate the 1031 with the 1 year clause. I have had some wonky ones. that the 1031 typically is giving bad advice. I always say I can not unhear what I hear. I am sure they don't want to see it as a rental because of rule from association but you already told me you got 3,000.00
thx.
