Also another thought..... if you have a currently have a mortgage on the property you "owner carry" and you have a due on sale clause on your mortgage, you may just find yourself having to pay off your exisiting mortgage in order to finance this sale for your "owner carry" buyer.
My advice is to consult to a CPA or a Tax Attorney - the last thing you want to be is penny wise and pound foolish.
Depending on what you want to accomplish sometimes it may make tax sense to not do a 1031 exchange on a property but to sell it outright. By taking back the mortgage you can defer taxes to be paid to the portion of monies you receive each year if you do an installment sale. Sometimes if you have a very low basis in a property an installment sale can make sense but you need to consult with your CPA.
What ever yoiu choose to do be sure to get advice from a qualified 1031 CPA or tax attorney. This is one area where you don't want to make any mistakes as they can be very costly.