Three questions for my first 1031!

[Danny Nikolai]

Hey BP community, 

I'm hoping to 1031 a property from California into a state with no income tax, and am planning on relocating most of my estate into this new state over time. I have three questions about completing this 1031...

1. 1031's must be exchanges of "like" properties. Can I sell my existing property and use a portion of the proceeds to purchase undeveloped land and the other portion to develop that land? Or is the money required to develop considered part of a boot that is subject to capital gains tax?

2. If I sell my property in California and then find two properties elsewhere whose values are greater than or equal to the sales price of my first property, can I do a 1-for-2 type of exchange with a 1031?

3. If I have a cash boot left over after an exchange into a different state, is that boot subject to the income tax rate in the new state or the old state?

Thanks in advance! I'm looking forward to learning more on this journey.