1031 with a change of title

[Joe Rest]

I am the sole proprietor of single-family used as a rental soon to close. The sale price will be 300K and profit of 200K. I would like to relinquish the property replacing it with multiple properties bought with a friend.

Is it possible to have a title change with a 1031 exchange? No LLC, just TIC with appropriate ownership %. Is it true that the new ownership can change as far as teh transaction maintains the tax identity; the TIC with % ownership allows this.

To maximize the tax advantage I understand my ownership part should be at least 300K. What is the minimum down payment (equity) I need to own from the start? Is it the equity=200K and the rest of my ownership could be through a mortgage?

thank you