I was granted an experience to do a nearly million dollar property exchange last year.

Basically, instead of paying the PMI monthly like most people know, you can pay in a one-time lump sum, or you can have the lender pay it for you in exchange for a slightly higher interest rate. 

@Austin Works yes you can if the syndication has a TIC structure for exchanges. 

The seller would sign a deed transferring title to you at the date the agreement is executed and monies are exchanged.

For this reason, what do you guys think about me giving them an equity stake in the house, in exchange for a smaller amount I'd give them monthly for helping me out?  

Land contract is simply the owner is giving me equitable interest in the property in exchange for a downpayment (in this case it is $0) and a monthly payment (in this case it is his mortgage payment).

Could we possibly still do a 1031 exchange or is it too late now?

Hi Devon,An important thing to also keep in mind is, despite some seminar speakers saying otherwise, there is nothing like a 1031 exchange in Canada.

I have a duplex rental in shoreline since 2004 and would like to either recoup some of the equity to reinvest in new properties or 1031 exchange to a larger property with higher cash flow 

He would give them chores and in exchange for doing chores, he would give them more time.