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1031 exchanges, are also known as "Deferred exchanges" or a "Starker exchange". These exchanges do not avoid taxes but can defer them as long as certain criteria and time frames are met.
What types of residential properties qualify?
Property must be an investment property, not your primary residence or second home. If it was your primary residence, you have to convert it to a rental property for at least two years before it will qualify for a 1031 exchange. A vacation home has to be rented out for at least six months to a year before it can qualify. And, it should truly be rented. You can't just say you tried to rent it.
Minimum time frames must be met. An owner occupied residence must be rented…