Hello My name is Vernon Tryon,I been in real estate for over a 1 year working as a intermediary, for Bulk REO nationwide, I look forward to networking with all the professional on this site.

Your knowledge, enthusiasm for a deal, your ability to be creative and so on are compromised if you have to talk to an intermediary.

@Edgar Sulca, Just like the reinvestment target requirements, one of the other key requirements to a successful 1031 exchange is that you must use the services of a qualified intermediary and they must be in place prior to closing the sale of your property.  

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.  

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?

I'm not prepared for the responsibilities of a lifetime tenant unless I have a good property management company as an intermediary.  

I am not a CPA and definitely not a 1031 intermediary (although both of those will probably show up here soon enough) however my understanding is that your new property must be equal to, or greater than the total value of the sale price of the current property.

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

Also, at what point in your process, should Matt retain the services of a Qualified Intermediary to ensure the 1031 exchange goes off correctly?