Explanation should include

Explanation should also include a discussion of how capital gains and 1031 tax-deferred exchange affect investment property.

DPOR correlations: 18VAC135-20-400. 2 (Real estate market and analysis); 18VAC135-20-400. 12 (Investment); 18VAC135-20-400. 20 (Appraisal of residential and income-producing property)

Process/Skill Questions: