Capital Gains
How long do I have to reinvest the profit from the sale of an investment property? I would like to sell a Massachusetts condo and use the proceeds to purchase a condo in Florida. Don't have a property in mind yet but know the area I want to be in. 
Cheryll,
You are not required to reinvest the proceeds from the sale of your investment property. Capital gains taxes are due and payable on any profit you receive in the year received. You can take as long as you want to reinvest the proceeds into another investment property, or you can spend the money any way you want.
Now, if you want to use a tax-deferred exchange to replace your MA condo with a FL condo, then your maximum exchange timeframe is 180 days from the date you open the exchange escrow.
Cheryl
Be aware that if you want to do a 1031 exchange you must not be in a position to take the money from the first property. Do not try it without expert advise.[ Edited by DaveT on Date 11/07/2003 ]