Are the savings worth executing a 1031 exchange?

[Megan Elliott]

I am contemplating doing my first 1031 exchange with a rental I have owned for the last 8 years. The cost basis will only be ~$35k so the taxes would be around $7000 (live in NC).  While the tax benefits might not be huge, I thought the value of the experience would be worth it.  I would be looking to exchange the one property for two new rentals. Any advice would be greatly appreciated!