Partnership Agreement and 1031 Exchange Sale

[Juan Sandoval]

I sold a SFH last month and used a 1031. I'm now using those funds to purchase an 8-Plex. I will use my 1031 to fund the deal. My question is, if I bring a partner in (my brother) to split the DP, will this transaction null and void my 1031? Or if when I go to sell, how would that work? I'm waiting to talk to my Lawyer and CPA, but just wondering if I should go this route. I was thinking of buying the deal completely, then just bring him in under a separate partnership agreement as an investor. But then how would I pass gain/losses to him as well for his tax purposes.

I also have multiple people that would like to partner and fund different deals with me, but I haven't done anything like that before. My question then is, do I have to create a separate LLC for each partnership? Separate bank accounts for each partnership? Some are buy/hold and some are flips.

Thanks in advance.

[Juan Sandoval]

@Dave Foster thank you.