That must have been for the whole county or something!

It must be the entity that does the 1031 exchange. 

My plan was to sell within 3 to 5 months after the rehab was done, but the house draws no interest, at least that is what I can read.Most of the people that visit the house say they love the rehab, but they buy elsewhere; others say that the master suit is too small, but none, not one offer has come through.I appreciate your suggestion on the price. 

The rebate must be listed on the CD by the buyers agent.Rebates are legal in most, but not all states:  https://www.justice.gov/atr/rebates

All the money you spend before the property is rent-ready adds to the basis for the property and must be depreciated. 

I paid the contractor too much, too soon, hence the work did not get completed.Don't buy a house you are afraid to visit.  

I am very interested in investing in real estate, especially in Indiana and with Indiana companies.....but I must confess that I would not know much about putting a hammer to a nail or what the best way for profiting from my investment (like selling it or renting it).

then you can use the 1031.To answer your question though you must do 2 things if you want to defer all tax - first you must purchase at least as much as your net sale (contract price minus closing costs and commissions). 

Virtually every visitor to IB visits the pier.  

@Seth Dillon, congratulations, you have started down the land acquisition path asking all the right questions including "there must be a better way."