Holding the note to defer the capital gains.

[Tylere Weaver]

Looking to sell a property that I ownnfree and clear.  It's a mixed use property.  I have a tenant in the restaurant and a tenant in the upper apartment.  

I would like to sell the property to the restaurant operator and they are willing to buy. 

i want to hold the paper on it to get the interest and what I'm hoping for is deferring the capital gains taxes until the balloon payment would be due in 5 years. Then 1031 exchange.  

has anyone else done this before?