1031 exchange no income from property

Dear 1031x.com: I bought a lot in a seaside resort community in 1993 for investment. Built a house on the land in 1998 with a partner. The house has never been rented or occupied except for quarterly maintenance (2-3 days each visit). Did not want to rent the house due to bad rental experience with other property. We are talking about selling it now that home prices have substantially
increased which was our original intent. I have some documentation (utility bills, gasoline purchases – the house is located 6 hours from principal residence) to substantiate the few days that the house has actually been
used. Can we do a 1031 exchange of this home?

Dear D:  There is no requirement that you earn any income on your investment property.  Many investment properties are held exclusively for future appreciation and not for current income.  Everything that you state indicates that your intention from the beginning was to hold this for investment.  I can confidently state that assuming all statements to be true, your transaction is 1031 eligible.  I hope you will chose our company for this service. Sincerely,

Steve Hickox
Attorney / President