Like-Kind Properties

"Like-kind" does not refer to the type of property, but, instead, the intended use of the property. 

Provided the property is initially acquired and held for investment purposes, it can qualify as a suitable exchange property under Section 1031 of the IRS tax code.

For example, "like-kind" property exchanges may include a duplex for a fourplex, bare land for improved property, a rental house for a retail center, or an apartment building for an office building. You do not have to exchange for exactly the same type of property as you are selling.