I own a real estate business with multiple offices around the state where I live. My wife and I just purchased a rental property using a 1031 exchange near one of our offices about three hours from our primary home. Since I spend about 50% of my time in that office, can our business (S Corp) rent the home from us to stay in while working at that office? I would be staying in a hotel otherwise. I just want to make sure I am following the proper rules to maintain the like-kind exchange status of the 1031.
