Doing a 1031 exchange from one LLC to another?

[Alex Zuroff]

Let's say I'm holding an SFR in an LLC (call it "LLC A") and I want to 1031 exchange it into a 4-plex. Before selling the SFR, can I buy a 4-plex in a different LLC (call it "LLC B"), and once the SFR sells and the 1031 clock starts ticking, have LLC A buy the 4-plex from LLC B to complete the exchange?

[Karolis Matulis]

LLCs generally do not qualify as like-kind assets. You could do a reverse 1031 exchange. 

In essence you contract the intermediary to purchase the property on your behalf. They will hold title until you sell your original property through the intermediary, thus completing an exchange. One of the exchange intermediaries here can give you more detail.