What is a 1031 exchange buyer risk?

As a potential investor in real estate, I'm curious about the potential risks associated with a 1031 exchange buyer. Can you explain what these risks are and how they might impact my investment strategy? I'm particularly interested in understanding the potential for capital gains taxes, timing issues, and the potential for unforeseen expenses that could arise during the exchange process. Additionally, I'd like to know if there are any other factors I should consider before embarking on a 1031 exchange as a buyer.