I also assume from your profile that you live either in TX or in AZ, and both of them are community property states which matters.If all of my assumptions are correct, there are no tax consequences.

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.There are over 20 real estate accountants on this site.

Very few are in financial positions where tax strategies should be prioritized in their real estate business outside of perhaps timing and tax consequences of selling real estate. 

Have a chat with your accountant to see what the gain and tax consequences are.Once you know what the tax consequences are, you will know whether a 1031 exchange is a good fit.Your gain = Sales price less costs to sell less adjusted Basis.Adjusted basis = purchase price + improvements - accumulated depreciation.

Anything beyond that is going to have destructive consequences for everyone involved.  

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

Consequently, new homes in these locations start at $550,000.

Hello all, I have a family member that has a decent property 4bd 2b  2 car detached garage on about 1-2 acre value is around $230–250 and if cleaned up and in perfect condition $300+.  Now the property is free and cle...

I don't know about you but I don't want to invest money where I'm treated second class, with all the consequences that go with that.

Consequently, new single-family homes start at $550,000.The demographic we've targeted for over 16 years can only afford to rent homes priced between $350,000 and $475,000.