But I'm unsure about the potential appraisal values.

Also, because you are at risk if the leasee fails to execute properly, you had best have a great lease and the ability to check on their performance. 

The challenge for me is that I am self employed so its hard to get the banks to take a risk on me due to how I have done my taxes the last few years.

They can make your property more attractive, help retain tenants, and potentially justify higher rent.

The people who reply to texts are different from the ones who pick up for cold calls, so you could potentially be the only one speaking to the sellers on your list.Best of luck!

For those with a W-2, perhaps optimizing 401(k), H.S.A. deductions to potentially get tax benefits.

No more lost texts, scattered conversations or he-said, she-said…resolve any potential disputes quickly and have a history of all messages.

Very creative, but solid.This also may offer the potential for you to keep your other home and rent it out as an asset, but that's between you and the investor who buys your aunts home to subsequently rent it back to you. 

Don't want to pay tax on selling the rentals I unfortunately don't think they actually want to utilize the 121 to sell their existing primary and then potentially buy another one-it sounds like the goal is to ultimately continue owing that initial home which I think makes this whole plan 5x more likely to be torn apart under audit because they're trying to end up with the same property they started with.  

The risk/reward here sounds pretty far skewed.