Planning Ahead for a 1031

[Gavin Delmas]

Thanks in advance for any feedback.  Here is the scenario looking ahead a year from now.  I'm in the process of buying a condo.  Between my down payment and  discount I am receiving from my father in law I will have about $70,000 in equity.  I have a couple of questions about how a 1031 exchange would work.  I am a little nervous about selling the condo and then looking for another piece of property to do the exchange with because I live in a rural area and there are not an abundance of properties to pick from.  So my questions are:

1.  Can I identify another piece of property and put it under contract/give earnest money, then sell my condo and have the proceeds used to complete the purchase of the new property or is this disqualifying?

2.  A year from now I would like to partner with my sister on a small apartment complex.  Can I do an exchange into a situation where I would have a partner?

3.  What is a good resource to read to educate myself in 1031 exchanges?

Thanks