1031 exchange, then refinance?

[John Soforic]

I am new to your site, but certainly not new to real estate. I have a quick question about a 1031 exchange...

When I buy the new property from the sale of another, can I then refinance the new property?

I am selling a flip for 260K and buying a group of duplexes for the same $260. I don't want to tie up that money forever... thus, can I save taxes via a 1031 exchange and then refinance to get the money out?