1031 Exchange Question

[Warren Johnson]

I am interested in finding out if anyone would recommend a reverse 1031 exchange?... If you have an investment property you want to purchase and take the profit from one you own but you purchase the desired investment property before you sell the property you wish to sell and take the equity from to roll. I know this is the opposite of what is usually done?

I know it has to be titled in the bank's name and they get rent proceeds until your other property sells which it does have to sell in 6 months and you have an extra closing with costs associated. All of this may negate the tax free benefit of rolling the profit from one property to another?

I am assuming a property held for 2 years you are taxed capital gains at 20%. If the gain was 100k would you pay taxes on that full amount if you paid an agent $40k to sell it? Could you also carry forward rental income losses to the next property?

Thanks