Another question about a 1031 reverse exchange…we’d like to use the sale of our LTR to pay back some of the HELOC we borrow for the down payment and closing costs. However, the sale of the LTR will be AFTER the closing of the new property, hence needing to use the HELOC because those funds are available now. Is this strategy of the 1031 reverse exchange allowed? Can we use the funds from the LTR sale to pay down the HELOC and still be compliant?

What pre-work activities for a specific deal prior to closing count towards your material participation hours? Also, is there a tool you would recommend to track that?

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