Something to note about her - she is much prettier, and much nicer than I...That said, Jason - if you can, on BiggerPockets none less, utter the words of juxtaposition of Zillo valuation to LP to reality, and be for even 1 second confused about anything at all, this serves as empirical evidence of your relative stupidity in the subject matter. 

If you are buying a large commercial project that doesn't need significant renovation then your relative floor of travel expenses can be covered more easily than if you are looking at one home.

Post your related experience, the number for the deal, and sit back.

Mike- Although you may know her, it should not have any relevancy unless your related.

Your relatives bank will provide the proof of funds and then at closing you will be told the amount to bring to the table. 

You probably just need to have an attorney talk to your relative to assure them there is no risk.

Your relative is going to need to take title to at least as much property as they sell in the 1031 if they want to defer all tax. 

But like @Roman M. says, it's usually not an issue as long as payments are maid on time and in full until you naturally sell or refinance.As long as your relatives don't claim the interest writeoff anymore (as they shouldn't) and you keep records proving you are the one making payments, you can claim the tax deductions on schedule E.Other pitfalls: you don't get the credit score benefits of making ontime payments.

Meet with an attorney to get a solid lease agreement you can use, even with your relative.

As you pay into the escrow you will have a 3 month buffer, so in September the total taxes due should be in your escrow account, which you will pay in November.It is a good idea for your relative to look into a mortgage servicer.