I'm familiar with the concept of exchanging a property for one of greater value to delay taxes.

Note; on this deal I have partnered 50/50 with a contractor; he is not being paid for the work; essentially he is renovating for free in exchange for 50% profit, so my labor costs are very low (bringing in subs for some small items and day labor to help, but no large labor costs).

Just wondering if anyone has any guidelines in regards to when its worth it to have a 1031 exchange in certain real estate sales.My current sale is going to have me owe about 35-45k in capital gains tax.  

The federal government cannot run out of money as they are the monopoly suppliers of our currency, i.e.

Is this a 1031 Exchange candidate?  

Lease signing and exchange of money and keys all happens at the same time.

Jon,I normally try to lock in good tenants as long as possible, and in exchange for an extended term (2 years+), offer them to lock in their rent for that period.

Profits would be taxed.Look at it as if you exchange one asset, the valuation of your property, for cash and such receipts are exempt, there is a form for losses and amounts received, check out the form.

If a lawyer tells you this is the case, you may offer her the three current properties in exchange for your sole ownership of any new properties.

The attorney examines documents, reviews title abstract, renders an opinion of title and prepares to receive funds to close once all conditions of the transaction are satisfied.It may be more complicated in your state due to the custom of parties physically meeting in order to execute documents and exchanging money.Therefore, if the counsel you seek is a "closing attorney" the opinions and advice is going to be heavily biased by their experiences.