You can allocate those proceeds any way you want - as equal down payments or buy one for cash and others with loans - It doesn't matter a bit as long as you use all of the cash and purchase at least as much as you sell. 

Using an IUL does some interesting things once funded.

When dealing with federal, state, and local NOFA (notice of funds availabilities), do government funds allocated for affordable housing often get depleted from too many developers requesting funds for new projects?

Opening a new fund or operating company and not reporting on the old fund’s results3.

., equipment) are excluded from 1031 treatment and are taxed separately—goodwill is typically taxed as a capital gain, while equipment may be subject to depreciation recapture taxed as ordinary income.To minimize taxes on the sale of the business, consider strategies such as Opportunity Zone investments, which defer gains until 2026 if proceeds are reinvested in a Qualified Opportunity Fund (QOF), or structuring the sale as an installment agreement to spread taxable income over multiple years.

My PPR note fund investment is a little different in that you can buy some notes from PPR and pay for the PPR notes using your Fund investment. 

Would a HELOC or home equity loan on my personal home be a good idea to fund this?  

It would be tough to rely solely on our own funding.

You can open a Self-Directed IRA and use the IRA funds to buy a house using a Non-recourse loan. 

Myself I used my own internal funds to prove my model.