Suggestions on performing a 1031

[Mary Chen]

My parents are looking to do a 1031 but they can’t qualify for a loan (the older property would only cover 60% of the new property) by themselves anymore so I’d like to do the loan under my name. Because I’m not an owner on the selling property I was told I could potentially borrow the difference as a primary or secondary home loan. It would be rental property to my parents and I would pay a 60% market rental rate and I would also pay the loan. Can it actually be structured that way? Any suggestions on a better way to do this transaction?