As a Realtor and Investor, I have been involved in several 1031 exchanges. From my own experience, I have learned that as you begin to understand the process, you find that it has even greater potential than you once thought. A 1031 exchange is an exchange of what the government terms "like property" for "like property." It is used mostly by those who purchase rental homes, flip properties or properties used strictly for investment. This includes land.
