1031 new construction

[Nick Clayville]

Hello, 

I'm looking at selling a rental property with a $175000 profit and using 1031 to purchase raw land and build. Is this is possible? And what would be the details of the transaction? The owner of the land is willing to do seller financing, then get a construction loan? Just don't know how all of it would work and if i have to take out a certain loan amount? Or would the cost of construction offset the profit and i could avoid the whole 1031 business altogether? Any advice or help is greatly appreciated.