When Doesn't it Make Sense to do a 1031 Exchange

[Ben Hutto]

I hear a TON about how 1031 exchanges are a great way to defer taxes + grow your portfolio faster. I've never done a 1031, but understand the logic and benefit behind them. I also understand some of the restrictions associated.

On the flip-side, I haven't heard many negative things about 1031s (other than the obvious restrictions).

Are there situations where it's better to avoid a 1031? Maybe if you don't have much equity? What other negatives exist with 1031s?

Thanks!