1031 Exchange - Existing Duplex to New Construction 4plex
I have an aging duplex purchased in 2012 with substantial gains and I'm considering cashing out to build a 4plex.
Would this be considered a "like kind" exchange in the eyes of Almighty IRS b/c it's a new construction project?
If so, any specific requirements I should look out for? Like violating time constraints or special paperwork b/c new construction?