1031 Exchange - Distributing Equity In MultiProperty Purchase

[Pierre E.]

Hey BP people!

Question about options on splitting debt and equity in a 1031 exchange when using it to purchase multiple nee assets

If you take a property, 1031 exchange it into multiple properties lets say one property 500k value with 200k debt into two new properties lets say property a is worth 250 and property b is worth 350k Could i purchase with property a owned free clear no debt, and then property b 50k equity plus whatever else I add in from purchase?

Are you allowed to choose %equity among the new purchases or do you have to keep the same ratio of equity from previous property into the new properties?