You will delete it, but first you have to transfer all relevant info to the new property first. Once that's done, the old one is of no use. As a result, you can delete it.
Below are additional resources on entering in the NEW property:
https://ttlc.intuit.com/community/investments-and-rental-properties/discussion/how-do-i-enter-my-rep...
https://ttlc.intuit.com/community/taxes/discussion/basis-depreciation-and-qbi-after-1031-like-kind-e...
