A 1031 exchange can preserve significant capital gains taxes — but mistakes can become very expensive. Here are five common mistakes investors should avoid when purchasing self-storage during a 1031 exchange. ❌ Mistake #1: Waiting Too Long Many investors underestimate how quickly deadlines arrive. Remember: 45 days to identify property 180 days to close Preparation matters. ❌ Mistake #2: Focusing Only on Occupancy A 95% occupied facility may still have: weak rents deferred ma