1031 Exchange
The time is finally here. I am ready to sell my primary residence, a duplex and purchase 5 or more units. I am considering doing a 1031 Exchange but I was wondering if all of my equity has to be used towards the new purchase? I am wondering because I will have to show atleast 3 months reserve cash for the loan. I wanted to use my equity for the cash reserves also. Or, do I just structure the cash amount I need to retain into the deal? I hope that makes sense.