1031 Help

[Edward P.]

Hi BP community, 

I have a few questions to ask about the 1031 exchange in California:

1. Is there a way to extend it from the 45 day period? I know by the 45th day you have to let the exchange company know that you are interested in 3 specific properties. 
   
   1. What if I buy another property that I did not list after the 45th day?
2. This property was for investment purposes should I purchase for my parents to live in? Or should I purchase a 5 unit apartment? 

If you have any questions please ask I will answer and thank you in advance for your help.