The funds will then be safe from the IRS and can be used to purchase a property. The transaction will be completed within six months and you have 45 days to search for a new property. The rule of thumb for completing this transaction is to search for the next property before selling your current rental property. The Internal Revenue Code Section 1031 further explains this process.
You might also consider having a property manager who is reputable to co-host the bookings.
You will remain the primary owner of the account and you will receive all correspondence. You also receive payouts. Consider how negative reviews could affect your standing as host. Is the risk worth it?