1031 on Two Rental Properties

[Betty S.]

Hello,
I'm a newbie to biggerpockets.com and has been impressed so far with the combined knowledge/resources available from this site.

I have two rental properties which I'm thinking of selling, at about the same time. Can I apply 1031 exchange by selling both properties and combined the fund and purchase one larger property. Is it correct that the basis of 1031 exchange is: getting the new property at equal or higher than the selling price of the previous property used in the 1031? So for two rentals, it will be a combined total. Correct?

Appreciate insights on tax implications and strategies of the process.

Much appreciated.