Real Estate Business in exchange for Real Estate

[John Rolston]

I might be way off here but I just wanted to research this a little bit.  I've done a strait 1031 for regular real estate in the past and it's worked out great.  Can anyone provide advice on the following.

1) Property I'm selling is not real estate, it's an LLC that runs a software application/online service that leases residential apartments. The vast majority of the value in the business is the Intellectual Property and the actual website itself.

2) Would it ever be possible to say 1031 exchange this for some investment property? I know that software/website is not like real property, but what if I had a Qualified Intermediary receive the funds and then purchase the investment property through an LLC/Corp. Any chance that would be considered like-kind?

Is this too much of a stretch?  I mean they would be be "like-kind" in that they are real estate businesses and generate revenue through leasing/renting real estate.