1031 exchange advice?
We think we'd like to do a 1031 exchange for our townhouse. Our intention is to put 50-100% net proceeds into a local investment property that we can manage, but we might keep some for our never-ending remodeling project (maybe a pool?).
Can we split the proceeds like that or do we have to put 100% into a 1031 exchange?
We've never done this before and don't know where to start, so any advice is welcomed!