Question:
“Hi Gary. I have a question about real estate investing. Can you buy and flip fixer uppers doing a 1031 exchange?”
Answer:
No.
If you buy a property and sell it a short time later without “holding it for investment” a sufficient time (probably 1-2 years), the IRS will likely consider it “dealer property” and it’s not eligible for a 1031 exchange.
Please verify with your tax professional.
