[ANSWERED] 1.When may a sale of real property and a subsequent purchase of real property be created as a…

1.When may a sale of real property and a subsequent purchase
of real property be created as a like-kind exchange?
2. When determining whether property qualifies as like-kind
property, is the quality or grade of the property considered?
3. When does a nonsimulcaneous exchange qualify as a
like-kind exchange?