I never heard of a 1031 exchange, dscr coverage, etc before I came here.

In exchange you might get in free to trainings. 

First unit lease is up for renewal on 10/31/2024 and has a good long term tenant.

LLC orS-Corp.Don't be in the wrong type ofentityFirst – Asset protectionbenefitSecond – Tax savings benefit Rental Real Estate – 1031(same in LLC or personal name)Syndicate - 15% or more in taxsavings, self-employment tax (flippers may use this) Expenses for write off &deductions: equipment & appliances, home-office ($5 per sq ft.), travel costs (related tobusiness), kids (income shifting by payingthem to work for you, meaning business related), membership, conferences &education, meal expenses for business, retirement strategies (selfdirected investing, tax-free or tax deducted, 401K/IRA)depreciation Pro-active Planning / Get a taxadviser Talk to your tax adviser inadvance Fire OutOrganize expenses, listquestions, changes (buy, sell, etc. properties.)Changing entity type from LLC toS-Corp etc.

Run the numbers.1.  1031 exchange.2.  

She's asking me to manage the house for her in exchange for a $200 monthly fee (for example, I could list the house for $2700 and give her $2500).This would include finding tenants in the same way I do for my own tenants, and managing the property after it is rented as it is only 4 min away from my home.

First unit lease is up for renewal on 10/31/2024 and has a good long term tenant.

Retirement account taxes will be deferred for another 20+ years for year, real estate its depreciated but only deferred if you do a 1031 at sale. 

How can I help you achieve your goals in exchange for you helping me?)

I thought the whole exchange was odd since I told him from the beginning I wasn't even looking for funding at this time but he definitely wasn't legitimate.