Purchasing a property I am renting with a 1031 exchange?

[Warren Wright]

1. I want to rent a house (that will be a rental) with acreage with an option to purchase. 2. I plan to then sell 2 pieces of investment real estate. 3. Then purchase the house and acreage with a 1031 exchange. I want to rent the property so that it will be available when my other properties are sold which will take some time. Will this arrangement meet 1031 requirements? Thanks