<prompt> Human: I recently inherited about 125 acres of farmland in Iowa. I looked at prices in the county and an acre is averaging between 8500 and 10000. I will soon need money to pay for school so can I sell a portion of it and continue to have a renter farm the rest? I understand there are probably taxes and fees but is it a smart move to sell perhaps about 30 acres?  <response>: You can probably sell it tax free, so no need to do a 1031. Your deceased relative got a step-up in basis on hisher death unless there was some complex estate planning - talk to an attorney to be sure, so if you sell it immediately, there should be no gain and no tax. Unless its sentimental, Id sell it and put it somewhere more productive such as commercial real estate as uDayuz suggests, somewhere more liquid mutual funds to be eventually used for school, or some combination of both. 