With the increased interest in single family homes as investments, more professionals are finding themselves involved in Section 1031 transactions. Section 1031 of the Internal Revenue Code provides a tax-deferral mechanism that allows investors to accumulate wealth from certain types of real property exchanges. By precisely following the Section 1031 rules, a taxpayer can dispose of an appreciated asset and purchase a new one with the proceeds without owing immediate capital gains tax. This advanced course provides an explanation of who, what, where, when, and how such a tax-deferred exchange is accomplished.