1031 exchange when seller financing is provided

[Miguel Jauregui]

This goes out to the CPAs/accountants...if I'm selling a property that will realize capital gains, and I decide to provide seller financing, does the IRS recognize the sale for purposes of the 1031 timeline starting at the point that the funds are actually received? Take for example that I sell a property for $10M, receive $2M down payment at closing, provide a X% interest-only loan with a balloon payment 24 months later. Does that mean that to take advantage of a 1031, I would have to identify $2M worth of real estate 45 days after closing, and then won't have to identify the $8M portion until 45 days after the balloon payment is received (let's say 24 month later)? Thanks in advance for the help/clarity!