First-time 1031 exchanger, Q's about splitting between 2 units

[Gabriel Floyd]

My wife and I are somewhat novice investors - started with our first unit 7 years ago.  Current plan is to sell our townhouse rental, take the funds and double-down on two new condos (decent cash flow).  The challenge is the 1031 exchange 180-day limit.

Here's the math (and hence the question):  Bought Townhouse for $200k, paid it down to $150k, and selling for $250k.  Essentially, we're hoping to use the ~$100k to drop $50k on two new properties (25% down, each).  Unfortunately, one property will not be available for 6+ months.  It's in a prime location, so I feel it's worth bending over backward to make it happen.

My question for the group:  What are some common tips/techniques that might allow us to close on the first property (< 3 months) AND  the 2nd property (> 6 months)?  I wanted to lock $50k into the exchange (avoid Capital Gains tax on the gains), and pocket the $50k (what I paid down on the loan),  so I would not be locked into a 180 day limit to reinvest the full amount.  Apparently that's taboo, and I risk paying tax on anything I pocket.

I've heard of refinancing shortly after purchasing, but I don't know exactly how that's supposed to work, and it likely incurs more cost to our big-picture plan (possibly jeopardizing our ability to put 25% down on both properties.

Any advice/recommendations would be most helpful!