Benefits of a 1033 Exchange

[Amber Wills]

Does anyone have any experience with doing a 1033 Exchange? I have some land that is being sold and was reading a little about it and the post was saying you have to purchase something comparable to what is being sold. So Im curious if I would have to purchase another parcel of land to make it work. I do like the fact that you have a longer period of time to find something versus a 1031 Exchange. 

Thanks