1031 Exchange on Second Home

[Mel Adams]

Hi all - I have an out of state property I purchased in Dec 2021 (less than two years of ownership) using a second home loan. It was purchased with the intention of being a second home as I have family in the area, but it’s rented the majority of the year. In the last year I used it for less than 14 days and it was rented for the bulk of the year (short term and mid term rental). 

Does this qualify to do a 1031 exchange? I thought 1+ year of ownership was sufficient, but now I’m seeing 2+ years specifically for second homes. I’ve read intent is also important, but how subjective is that? Me wanting to sell this property is contingent on being able to use a 1031 exchange, so I don’t want to get 70% of the way there then realize I can’t do the exchange. 

Any input is appreciated, I’m a novice in this area. Thank you!