An increasingly popular 1031 exchange option is the triple net lease (ie. "NNN"). A triple net lease is a long term lease where the tenant pays for all maintenance, taxes, insurance, and utilities. Usually, these NNN leases are with well know franchises or chain stores such as Walmart, Walgreens, Pizza Hut, and Starbucks.
The advantages of exchanging your investment property (either individually or through a tenants in common) into a NNN property are:
1) Zero maintenance
2) Zero occupancy risk- high credit tenants sign long term leases
3) Lower principal risk (because of #2)
4) If you purchase through a tenants in common structure, you can buy a larger, and thus higher yielding property
The attached article provides a good overview: article link
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