Paying back LLC members and 1031 Exchange

[Josh Skogen]

Hello. I'm part of a 4- member LLC, which owns a SFR. We are selling the property and would like to use a 1031 exchange. Now, the four of us have contributed from our own pockets towards the purchase and renovation of the house. We have this accounted for in our yearly taxes, too. Would we be able to have that money returned to us at closing without that money being taxed? Could it be considered as though our personal pocketbooks are the bank that has lended to the LLC, and we are owed the money back at closing? Or does a 1031 exchange not allow any money to go to the members of the LLC?