Can I do a 1031 exchange on my balloon payoff from Contract for Deed?

[Jo Bavani]

I am considering selling a property via owner financing and want to understand the tax implications pros and cons. Please share any pointers including the obvious ones as I am new to this. 

Also is there some way to do a 1031 Exchange on the balloon payoff (5 or 7 year term)?

The rental was purchased in 2020 and is free and clear. It is an investment property and never owner occupied.