By 1031 exchanging those condos that each practically doubled in value, Now have $160,000 cash flow and in 4 of the apartment complexes we have dramatically forced appreciation too that we will either refinance and take all that appreciation in year 4 or 5 of ownership or at that same time 1031 exchange for a larger property at that time.  

Now if you want advice on true Multifamily (5 units or more) and 1031 exchanging pricey single family properties for true Multifamily, then go to my profile and contact me.Swanny

Come to the Real estate exchange club meetings, and Landlord's Almanac meetings when's you get to town. 

You might also consider your holding costs and legal expenses, then decide it is easier to offer an incentive to move out by X date in exchange for a handful of $100 bills upon handing over the keys to a broom clean property. 

Normally on a flip you will have to pay capital gains taxes unless you want to defer them and do a 1031 exchange into a larger property. 

We bought this property as a 1031 exchange.

I want to use the 1031 exchange for this sale.My question: Since it is such a short time from purchase, is it possible to apply the 1031 exchange to the purchase of the 3 units?

With an eye to moving them with 1031 exchanges so you avoid tax on gain into FL when the time is right and you go for it actively and start playing in the sand box for yourself.

Not the worst thing but it does leave you with a tax bill and it also slows you down.As long as you perform a 1031 exchange when you sell the Parker property, which you can do right now, you'll be able to move it with no tax consequences at all into whatever market you choose.  

I won't go into it here, but if you want to exchange into multiple properties, there are some important rules about identification of replacement props you should get comfy with, namely the standard 3 Property rule, the 200% rule, and the 95% exception.