1031 Exchange During COVID19

[Allison Patterson]

Bought property for $160k back in 2011...recently sold for $240k. Wanting to re-invest but, because of COVID, and delayed mortgage payments by banks (and thus, decreased foreclosures) we are unsure. Would love to turn the profit into 3 more rentals but also wondering if it's better to pay capital gains now (~$15k) and pay off our house or bite the bullet and buy property now under 1031. 

Hearing the housing market will crash soon from a lot of places ... Any advice??