Strict rules to the guidelines are set forth within the tax code. These rules must be followed for a successful exchange. Investors must pay attention to four basic rules that must be followed when entering into a delayed exchange, and should seek the advice of their tax accountant or attorney to ensure proper advice to the tax code. The four basic rules for a successful exchange are.

Investors have the ability to structure their exchanges in several ways. Depending on the investor's situation any of the four exchange types listed below could be a viable option.