Buying partner's share of apartment building & limit income tax

[Maria Zielinski]

I own a multi-unit apartment building with my parents and they are looking to sell their share. I purchased their partner's share about 15 years ago. They have owned it almost 30 years and their accountant is recommending converting to LLC first and me purchasing their shares to reduce their tax burden. According to him conversion will be at today's value, I would purchase shares from them over agreed number of years. They would not have to pay recapture tax. Would their benefit today have tax consequences for me when I go to sell?

Original purchase $250 (their share fully depreciated), today's value $500