1031 exchange advice

[Adrianne G.]

If you own an investment property, and want to sell it to purchase another investment (and haven’t lived there for 24 of the last 60 months -i.e. ineligible to sell the property and avoid capital gains), is your only other option to avoid capital gains to sell the investment property via a 1031 exchange for the like kind purchase of another investment?

If you use a 1031 exchange, do you have to buy/make your next purchase offer contingent on 1031 or is it paperwork you work up alongside the transaction?

Thanks for any suggestions on where I can learn more!