Has anyone ever used a 10-31 in a partnership?

[Mark Lawson]

I have a project we are working on and taking on some partners and one of them is wanting to use a 1031 for his buy in. The project is a branded RV park and Golf course so it is a some what expensive property so I wanted to take on a few partners at $550k each. One of the investors wants to use the 1031 and be listed as a tenant in common on the deed. The property is on multiple parcels in two different counties in TN and all of the parcels have a tax appraised value well over the $550k so I am considering doing this and listing him as a TIC in one parcel.

Has anyone every used a 1031 in a partnership or have ideas on how to make this work. This investors has done several deals with me so I want to find a way to make it work just out of loyalty.