1031
Tax-deferred exchange of like-kind real estate. Many DST buyers sold a property and had 45/180 days to park the gain.
The clock, not the yield, is why DST sponsors can sell aggressive projections into a concentrated ticket. The exchanger has to close.
Why it shows up here: suitability and Reg BI arguments start from that concentration. This was often someone’s replacement property, not a satellite position.