Cannabis 1031 —> How Much Can I Buy?

[Casey Kornoelje]

I've entered into an LOI to sell owner occupied commercial real estate (special land use permitted cannabis property) that I've held for about 18 months. The sale will create a sizeable gain that I intend to 1031 to avoid taxes.

It's not clear to me how many properties I'm eligible to 1031 with the sale proceeds. I'm personally more comfortable with SFR or a 4 plex vs a 50+ multi family.

Can I 1031 the 1 commercial (cannabis) retail building and purchase 20 SFR? Assuming all sale proceeds go towards the SFR.