Multifamily can look familiar and still require deep underwriting.
Replacement-property analysis should examine in-place rent roll, concessions, bad debt, operating expenses, property taxes, insurance, payroll, utilities, deferred maintenance, unit-turn costs and planned capital expenditures. Market-level supply and rent growth matter, but so does property-level execution.
Exchange-specific diligence
Confirm closing readiness, lender timeline, title, entity ownership and the ability to complete inspections and third-party reports inside the exchange window. Do not let a tax deadline erase investment discipline.
Primary / reference sources