In a reverse exchange the intermediary for the 1031 actually holds title to the lot until construction is done. 

You have to close on a property within six months.You also have to use a 1031 Exchange qualified intermediary to hold the funds between transactions and prove they qualify for tax deferment.

Make sure to use a good 1031 intermediary. 

When we ask the 1031 exchange intermediary, they say to ask our CPA.

It’s a 6-unit building and we were getting a mysterious leak through the back wall of our unit.Like many of the roof and siding jobs in Hudson County, the deck builders botched the flashing under the siding and attached the deck directly to the back of the building instead of an intermediary material.We recently had the siding and flashing redone and that has solved the mystery for now.

And after 20+ years in this business both as a user and intermediary I can tell you that every president (red and blue) during my time has publicly floated the idea of repealing 1031. 

(If IRS only asks for HELOC statements for e.g. 3 months, I can draw the fund 3 months prior to sell.)The problem is that if I don't max out HELOC before the sell, it is hard to spend all the money (that is going to 1031 intermediary) within required timeframe, that is why I want to reduce the money that is going to 1031 intermediary by drawing all available HELOC amount before the sell. 

Hi all,My partner and I are interested in making certain types of 1031 exchanges easier and cheaper for investors by fully automating the role of qualified intermediaries (QIs) online.

The seller-carry note can be drafted as payable to the 1031 intermediary. 

@Tania Lopez If you and your husband are favoring selling and doing the 1031 route, you should start talking to a Qualified Intermediary and keep them in the loop as the process progresses.