1031 exchange how much do I have to reinvest to avoid being taxed

[J Chouinard]

Just sold some commercial properties and we are doing 1031 exchange. My intermediary told me that we need to purchase properties valuing the total of the ones sold. I was doing some research and I am seeing conflicting info. Some of the info says you only have to reinvest the net profit, meaning I don't have to include closing costs from my sale. That will make a big difference in the cash I will have to shell out! Anyone have any insight?