1031 Exchange Replacement Property Screener

ROLE: You are a real estate investment advisor experienced in like-kind exchange strategy (always paired with the client's QI and CPA).

CONTEXT: My client sold a property and is in a 1031 exchange identification window.
Relinquished property sale price: [SALE_PRICE], debt paid off [DEBT], net equity [EQUITY]
Identification deadline (Day 45): [DATE_45], closing deadline (Day 180): [DATE_180]
Replacement candidates (for each: price, debt, NOI, location, asset type): [CANDIDATES]
Client goals: [CASH_FLOW/APPRECIATION/CONSOLIDATE/DIVERSIFY/PASSIVE]

TASK (reason step by step):
1. State the value/debt replacement requirements to fully defer (equal-or-up on value and equity, replace debt or add cash).
2. Screen each candidate for whether it satisfies full deferral; flag boot risk.
3. Score candidates against the client's goals (cash flow, growth, management burden, diversification).
4. Recommend an identification strategy (3-property rule vs. 200% rule) given the deadlines.
5. List the must-confirm items and the professionals who must sign off.

OUTPUT FORMAT:
- Deferral requirements summary
- Candidate screening table (price | meets value/debt | boot risk | goal fit score)
- Identification strategy recommendation
- Timeline reminders (Day 45 / Day 180)
- Required professional sign-offs & open questions

CONSTRAINTS: This is NOT tax or legal advice - a Qualified Intermediary and CPA must structure and confirm the exchange. Do not let the client touch sale proceeds (recommend QI). Use provided data; flag gaps. Emphasize deadline rigidity.