Best way to buy house "for" brother (hopefully w/1

[Joe Anderson]

So here's the story...I'm selling a property (business property) in the next month, and will have about a $370,000 taxable gain.

Meanwhile, my brother is looking for his first home, probably in the $175,000-200,000 range. He's very young, but has great credit and a good steady income.

I'm wondering if it's possible for me to do a 1031, buying a home that I will rent to him? It seems the ideal thing would be to actually sell it to him and amortize things so he builds equity and gets the deductions while I get some income, but I'm assuming that would make the 1031 idea moot?

Is there any way that we could use the tax law concerning gifting to our advantage, so I could somehow rent it to him (thus hopefully utilizing the 1031 and getting some income) but then ultimately gift it (or portions of it) to him, so he would eventually be the owner?

How about a rent-to-buy agreement of some sorts?

Seems very convoluted, I realize, but just curious. I'm meeting with my accountant in a week and would just like some ideas before meeting. Thanks.