1031 Exchange Scenario

[David West]

Hi there,

Is a 1031 exchange possible in this scenario? I purchased this duplex with 20% down with the intention of living in one side and renting the other. I did that for 9 months then moved out and rented both sides. I no longer live in the home. I am planning to sell this home and purchase a fixer in the mountains that includes 2 parcels. 

Home 1 - Duplex

Purchase Price: $720k

Purchase Date: 7/15/2018

Renovations: $50k

Sale Price: $975k

Home 2 - Mountain Fixer with 2 parcels

Purchase Price:  $320k

Renovations: $120k

ARV: $500k

Happy to provide more info if necessary. My plan was to just pay the capital gains and not stress on doing the exchange but I'd rather not leave money on the table if there is a choice. Looking forward to your responses and advice.