Is there any creative way to avoid/reduce capital gains tax on the sale ?

You do need to partner with a good operator, and there's plenty of mediocre ones out there. 

On the other hand, if you are looking to do a more heavy value-add with renovation you may look for bridge or private money options.

So, what are they worth?

But there are a couple of nuances.1.

If you are living there you can keep the 4% rate.If you are not living there you can rent it out to pay for the property taxes. 

Some of my rentals are under my LLC, but most are in my wife's and my name.

Either pay it back in ten years or when I sell I have to give a % of the equity to the lending company. breakdown$2,200-$1,100=$1,000 profit what are your thoughts?  

Are these the only items we need to document?

Many investors that I have worked with utilize quitclaim deeds or other ways to transfer ownership after the fact, but like David said you need to make sure it will not jeopardize any financing, etc.