Capital Gains vs. Ordinary Income, & 1031
How long do I have to own a property before I sell it and the proceeds are subject to capital gains taxes vs. ordinary income? I believe it's one year.. but is that a calendar year (i.e. 1/1 - 12/31) or just 365 days? So if I purchased a property on 6/29/2022, I would need to sell it on or after 6/29/2023 before the tax type changes?
I also assume I can't sell a property that is subject to ordinary income (like something I've owned for four months) and then put the proceeds into a 1031 exchange, is that right?
Regarding 1031 exchanges, is it always a one-for-one? Or can I take the proceeds of the sale of one property and put it into two or more others? Or can I take the proceeds from two or more others and put it into one new property? What are the limitations in this regard?