1031 exchange for newbie

[Andy Wu]

Hello,

I bought my rental last week and found a tenant  a few days later. It is rent to own lease. The tenant want to buy the house in 45 days. I received the rent to own option fee.

I plan to do 1031 exchange as my purpose is buy and hold. This is my first time doing rent to own lease. 

I already found a 4 unit multi family. What should I do next?  Do I have to select a particular title ccompany to do it? The lease to option fee is already deposited in my bank. Will this affect anything? Should I get the 4plex in contract now?

Thanks,

Andy