1031 Alternative Question - Cash Out

[Richard Heine]

Tax issue. I have a property I paid cash for years ago, say 100K. I have a buyer now at 200k.  Am I only concerned with deferring tax on the 100k profit.  I was told that in a 1031 closing, they escrow all the money waiting for my followup purchase closing. By purchasing another 100k property will I get my 100k equity out. 

Thanks