45 days to identify and get under contract, 180 days to close. I had wondered recently about the depreciation recapture and whether it was deferred in a 10-31 exchange. That's good to know, because as I contemplate moving out of state, I would prefer to 10-31 my existing properties and buy where I end up. I did end up googling real quick just to confirm it.
The PM fees are ridiculously high for what I consider very little actual work and would significantly cut into profits to the point of it just not being worth it. Plus I'd feel better having properties close by where I can check on them.
Apparently you can even buy more than one property with the proceeds, and as long as the property you sold had a deed and the property(s) you are buying have deeds and are for business purposes you can trade a condo for a house or a house for an four-plex, etc.
Is it just me or does the government want you to own real estate. The more I look at the tax laws and all the benefits, the more it looks like they desperately want you to own real estate. It stimulates the economy, think of all those jobs it creates, all the material, the labor, the people involved in the transaction, etc.