"Like Property" in regard to the IRS Tax Deferred Exchange is basically any Real Property (Real Estate) that is "held for investment". "Held for investment" generally would mean property that you keep for a period of time for investment growth by appreciation, depreciation and cash flow.
Property that is purchased for investment purposes in order to be "flipped" (resold quickly) as in a fixer-upper purchased, repaired and then quickly resold is NOT considered "held for investment" and would likely not qualify for 1031 Exchange. Contact a qualified exchange company to assist in identifying which of your properties are available for a 1031 Exchange.
For more information please consult your tax professional.
All information believed accurate but not warranted.
