I think a "Section 1231" property relates to business properties, but allows owners to turn the income from a sale into capital gains (that is taxed at a lower rate).
It sounds like Eastland may have been talking about a Section 1031 "exchange property"? In that case, when you have a large expected capital gain from the sale of your property, you are allowed to reinvest your "profit" into a different property. There are very specific rules to follow when doing this type of exchange, but it is another way to avoid a large capital gains taxable event.
I am certainly not an expert on that topic, but I have some wealthy buddies that have used that option to a substantial benefit.
Eastland, if that is what you meant, and you have better advice than I do, perhaps you could expand on how it worked out for one of your exchanges?
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