8 months too short for a 1031?

[John Vietmeyer]

I purchased a property last November and put a tenant in with a 6 month lease.  Now that lease is coming to an end and I have good equity in the property.  If I don't find a strong new tenant, I'd like to sell the property and 1031 it into a new project.  

While the IRS does not define a specific timeframe, I hear owning a property less than a year is a red flag.  Is it not worth the risk?