I cover how to handle this in my class.  

YOU work in Vancouver or WA and you pay NO state income tax.. your partner has some hiccup on the drive but its only about a 3 mile traffic jam then your off the freeway on surface streets to Portland State... and there is a huge water front deal going on in Vancouver.. it could be a real good play .. but something to check out.living down south like Newberg or anything like that is a non starter unless you want to drive an hour each way.but I have two duplex's that I can send your way they are both in Beaverton and are off market I would let you look at those before we list them and deal with multiple offers etc. in the process of rehabbing them now.good luck with your search.. if you can handle the weather here it can be a nice place to live like its been raining for 2 straight days.. many of us Californians really get sick of it and want to go back home LOL..

If you don't get a referral for your area, start calling the title/closing companies in your area and just ask to speak to a title agent that handles closings and ask them if they'll be able to facilitate a wholesale deal, whether it be an "assignment of contract" or a "double closing". 

My father owns a large barn and he rents it out for 350 a month, he does not live in indiana so I handle it for him.

How would you handle the situation? 

Any advice on a different way to handle this? 

Update - talked to our escrow officer - terms will be written into the escrow instructions - she's handling it all. 

I'm glad to hear your preference is vacation rental because I've only ever heard of people handling long-term rentals.

Would each time I get a distribution of profit need to be handled as a separate 1031 exchange, or can I have the 1031 intermediary "hold on" to the capital until all profits have been distributed?

You should be able to verify this by calling the Ohio department that handles licensing or any real estate brokerage.