Somewhat of a 3-way 1031 exchange

[lapsonluu]

I accidentally marked my other post as resolved so I am reposting this scenario with additional questions. 

The taxpayer has rental property M (her name holds the title) to sell but still needs to set up the selling process. She came across property F and thought it was a fantastic deal. Property F is a higher-value property. She has considered doing a reverse 1031 but has considered the process very risky and wanted to consider another route.

This is her thought process on another way to go about it.

She proposes to use her company (100% ownership) to acquire the property F first. In the meantime, she’ll also put property M on the market (relinquished property). When she accepts an offer, she can request the buyer to cooperate with her under 1031 tax deferred exchange through an accommodator. Then, she will identify property F (held by her company) as the replacement property. Both sides (The taxpayer & her company ) will need to open an escrow to finalize the exchange thru also the same accommodator.

The question is: will her exchange meet the qualification by the IRS due to the fact she’s also a member (or shareholder) of her company?

From what I researched, it looks like the answer is no and this might be not the correct way to go about this process. Based on what she's telling me, it sounds like it's more of a 1031 exchange between her properties with an unrelated buyer involved.

What do you think or suggest in this case?

[abctax55]

I think Bob's answer, that you marked as solved, was perfect.

And, FYI - marking is solved doesn't close the thread.