Hi Account Closed, the first thing you need to do is hire a qualified intermediary to hold your funds from sale.

You need an attorney to answer whether the trust with your FA as the Trustee meets the criteria of qualified intermediary.

In a reverse exchange your Qualified Intermediary takes title to the new property in a special entity and holds it for you while you complete the sale of your old property.  

This model also promotes a lack of skill and knowledge on behalf of the intermediary party.

You'd need to enlist the aid of a Qualified Intermediary to execute a 1031, and there are some specific rules you need to adhere to, but since you'e not on the market just yet, you have plenty of time.

Also, on the 1031 exchange - what are the fees associated with finding and employing a qualified intermediary on such a deal?

There are time limits, qualifying properties, intermediaries, etc.

@Logan Larochelle , before you put your current property on the market, you NEED to talk to a 1031 Qualified  Intermediary.

(Let me know if that wasn't very clear, people often get very confused about this rule).Since you'll have so much value to play with and are looking for cashflow investments, it's most likely you'll reinvest into multiple properties, or into a large MFR. 1031s have a lot of rules about replacement property identification and timing (which I'm happy to go into if you need a primer, but I'll leave for now) so you'll need to be well versed and have a good Qualified Intermediary in place long before you go to market if you elect to go this route.Given the value of your currently property, you have a million options for reinvestment, so you'll need plenty of research and vetting time before you pull the trigger on selling it.

The easiest way is to google search qualified intermediary in your area and talk with them.