General information to pass on to homeowners

[Vicente Hernandez]

Hey BP Community, 

I am still relatively new to the real estate industry at least in the sales side (have been a leasing agent for over 3 years). I wanted some general information that would be important to pass along to clients if they ask about 1031 exchange. I've done some of own research online and in videos but would love some insight from brokers or investors that have done this themselves. What are some of the biggest misconceptions about 1031 and what are key points I should bring up?