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Restrictions for deferred and reverse exchanges.
You may disqualify the entire transaction from like-kind exchange treatment and make ALL gain immediately taxable if you take care control of CASH or other proceeds before the exchange is complete. If they are received at the conclusion of the exchange, the transaction will still qualify as a like-kind exchange. Gain may be taxable, but only to the extent of the proceeds that are not like-kind property.
Use a qualified intermediary to hold those proceeds or cash until the exchange is complete. You can NOT act as your own facilitator nor can your real estate agent, broker, investment banker, accountant, attorney, employee or anyone who has worked for you in those capacities  within the previous 2 years.
Be careful in your selection of a qualified intermediary. There have been incidents of intermediaries declaring bankruptcy or otherwise being unable to meet their contractual obligations to the taxpayer. It could prevent YOU in not meeting the strict timelines set for a deferred or reverse exchange, thereby disqualifying the transaction from SECTION 1031 deferral or gain.