Or any amount of cash you take out from the exchange are considered to be profit. 

If yes, am I eligible for a 1031 exchange even though I claimed the home as my primary residence when it was rented? 

Otherwise, I'd say watch those areas closer to Micron understanding the barrier to entry will be significantly higher in exchange for the lower risk.

A 1031 exchange could also defer taxes if reinvesting in a better cash-flowing property.

. --- They will offer to fix them in exchange for lower rent, but ask yourself, if the tenant has been living there for 25 years, why isn't everything fixed already?

@Ilia Zakharav, There's no problem in selling individual units and 1031 exchanging them as individuals. 

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I also did a 1031 exchange from a different property that gave me a bunch of cash for one of these purchases. 

@Arthur Savery, This can be a great game plan called a diversification exchange. 

would love to see a seller finance specific calculator that has a option for 1031 exchange from buyer bringing in down payment.