1031 exchange into TIC or LLC

[Philip Hernandez]

I have a potential partner that has sold an investment property and moved the proceeds into a QI for a 1031 exchange. How would it be possible to purchase a multifamily property using the funds from this exchange? I've heard conflicting information regarding using TIC's to set up real estate purchases in this way. Also this partner would be contributing most of the capital for the purchase, and I would be doing most of the work, is it possible to set up the TIC so that the partnership would be split up 50/50 like this, or does it require that % ownership match capital contributions?