1031 To Buyout Partner

[Lorenzo J Uribe]

Would this scenario be feasible for a 1031 exchange (numbers changed for easy math):

Owner sells investment property/land A for $150k.

Owns half of rental property B worth $600k.

Uses $150k proceeds from A towards buyout of 50/50 partner of rental property B for $300k.

Thought process being both are investment properties and 150k towards 300k satisfying equal or greater value.

Side notes:

1. All properties are paid off

2. Partner is sibling

3. House needs more than $150k in improvements