Please remember to use an intermediary you can not touch the money directly.

You must use an intermediary.

@Eric Fete, I'm sure your intermediary, if you have one, has already asked you but, is your LLC a disregarded entity?  

They must never hit your account - you need an intermediary to hold the proceeds for you.  

Find a qualified intermediary and go from there.

My instincts tell me that there's a lot more for you to learn before you'll find profits as an intermediary, let alone a note buyer principal.We all have to start somewhere, of course.

Bring their office lunch and develop a relationship; attorneys with title companies are among the best lead sources of great deals you can have, and, as a onus, many will save you a lot of money by bringing the seller and buyer together in contract without intermediaries!

If the 4plex was strictly used as a rental then the only other primary requirement is that the replacement property be of equal or greater value (some other more specific details will apply of course depending on your mortgage amounts involved, etc so ask your exchange intermediary for more details).

They should go to the intermediary or they run the risk of being classified as boot at best and jeopardizing the exchange at the worst.What you're talking about doing is to buy-refi-hold-option and 1031.  

Anna Myers I recommend choosing a Qualified Intermediary right away and letting your title agent know what you are planning to do.