1031 EXCHANGE to a less valued property

[Kwan Cheung]

I am planning to sell my out of state rental in Las Vegas, it is a SFR owned since 2015 that has a mortgage balance of 150k. And would like to 1031 exchange this to a condohotel in Las Vegas. The cost of condohotel will be cheaper than what the SFR will sell for, also it will be an all cash purchase because lenders are not ready for lending this kind of condohotels. Listed below are the expected amount on this transaction, can experts here help me to figure out if this 1031 exchange is valid to defer all capital gains?

Replenishing property (SFR): 

Purchase price (2015): $240k

Anticipated Selling price: $320k

Selling cost: $20k

Depreciating recapture: $20k

Net gain: $80k

Mortgage balance: $150k

Net cash after paying off mortgage: $150k

Condotel to Purchase: 

Purchase price: $200k

All cash purchase (I will use the 150k net cash from above sale, plus an additional $50k tapping from my HELOC to fund this purchase)

Thanks in advance for your input!