LLCs and 1031 Exchanges



I and a relative are planning on pooling our funds and
investing in commercial (i.e., not residential) real estate.
We've been advised to form an LLC, owned 50% by each of us,
to make the investments.

Eventually, I expect that we will want to participate in
1031 exchanges.

Can we do so as an LLC? Are there any 'gotchas' we need to
be aware of before we set up the LLC, so we don't somehow
disqualify ourselves from an eventual 1031 exchange? If
this is a problem, is there a better approach we should

Thanks for your help.

- Jeff
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