1031 exchange question

[David Rutledge]

Hi Everyone,

I own an investment property that I am considering selling for around 200K (bought it for 150 4 years ago)

In the next 6 months I plan to also buy a primary residence first and after that two additional investment properties.

I was looking into 1031 exchanging the gains from the current property I own and putting it into the first property and I have a few questions I was hoping I could get some advice on. 

1) Am I able to exchange it into a primary res or does it need to be another investment property?

2) How long after closing do I have to purchase the next property? Is there any way to apply for an extension of this in any way?

Thanks so much in advance for any help or input everyone.

David

[David Rutledge]

Ah, sorry I re read your post. the 800 - 1K was the cost for the actual 1031.

Thanks for clarifying.