There are certain inviolable rules in a 1031 exchange and certain other bits of advice that can help you get through a 1031 exchange without making any mistakes. One bit of advice most people in the business would give is to use all proceeds from the relinquished property for purchasing the replacement property. reports:

Make sure the debt on the replacement property is equal to or greater than the debt on the relinquished property. (Exception: A reduction in debt can be offset with additional cash; however, a reduction in equity cannot be offset by increasing debt.)