2-way 1031 Exchange experience?

[Eric Peoples]

Hello.. This is my first post as i have been just absorbing all of the great info.  Does any one have any experience successfully doing two simultaneous bilateral 1031 exchanges?  Myself and the seller/buyer will essentially swap properties.  I have a Fourplex (owned outright) I am selling and would like to 1031 as down payment into their 20 unit building, I would need to secure the loan for remaining 75% of the 20 unit purchase price..  At the same time the seller of the 20 unit building will 1031 some of their proceeds from sale of 20 unit to the purchase of my Fourplex.  I have spoken with a broker and a lender i have used in the past.  Broker says it is do-able (maybe a boot?) however the particular lender said we would need the downpayment for the 20 unit in hand and the sequence of the deal would be a problem.  I was hoping it could be handled in escrow somehow??  Hopefully this makes sense, would appreciate any feedback or if anyone has ever done something similar.