1031 from Multi Unit to Mobiles Only

Has anyone ever exchanged in a 1031 a multi unit or stick built piece of real estate for mobiles only? The reason I am asking is because of the Greg Meade scenario that just came up in FL. If one could 1031 a significant amount of money and buy several mobiles at one time from a closing park it could be a heck of a deal cost wise on the mobiles. The rub I see is that you could technically not be exchanging like kind property. Real property to personal property? It might not fly but like to know if anyone has done it.



a good 1031 guru could make it fly . . . Jack Shea comes to mind


You’d have to figure out a way to turn those homes into real estate prior to acquisition. A 1031 exchange requires you exchange for a “like-kind” property. Real estate must exchanged for real estate. Real estate exchanged for personal property (mobile homes) does not meet the requirements.