I wonder if since Venmo is an intermediary, then it wouldn’t qualify as long as you don’t transfer out of Venmo to your bank.  

Hi @Jeff Helm,Are you looking for a CPA or an Intermediary to handle the exchange?

Hello all,I would think this is rather common but I would appreciate it if someone have this experience and can chime in on the topic.I have two properties that I would like to sell and have 1031 exchange into a large...

Your Replacement Property, or possibly your Relinquished Property, must be acquired and held or "parked" by the Qualified Intermediary that administers your 1031 Exchange transaction.The Reverse 1031 Exchange would allow you to close on the Replacement Property on May 31 and then give you 180 calendar days to work on closing the sale of your Relinquished Property.

However, planning and knowing how to use that process to your advantage is key and earlier is better for that.From a strict logistic point of reference your intermediary must be in place prior to your sale.  

Ask your intermediary about this.Have a good night!

Your client will sell his real estate and using a qualified intermediary to document and QB the process they will buy new investment real estate.  

Qualified Intermediaries should be discussing these issues with their clients when an identification of a fractional interest is contemplated. 

An individual called the qualified intermediary must be in place to document the exchange and hold the proceeds of sale prior to the close of the sale.In your case you did not engage the required intermediary prior to sale.  

In regards to 1031, you need to contact a 1031 intermediary asap.