You “have” to hold at least a year barring a financial collapse the tax treatment and savings will be immense. 

It doesn’t matter which entity, ordinary income from flips are not allowed to have installment sale tax treatment. 

I kept having the exterminator come by and spray every two weeks but it just wasn't taking care of the problem (The exterminator kept promising me that the spray would take care of the problem and to just be patient, he would deflect the question every time I asked about doing a heat treatment).

Mary's is a heart surgery hospital and Cabell Huntington is general surgery/ cancer treatment. 

@David West, The property you're selling would certainly qualify for 1031 treatment. 

@Rachel Campagnolo, In order to qualify for 1031 treatment the taxpayer for the old property has to be the same as the tax payer for the new property. 

Therefore, treatment will mirror your own personal residence (i.e. most expenses will be personal in nature and non-deductible).Any rent she does pay you is taxable in full with no deductions to offset.Then you contend with the gift tax issues.Generally not a good idea to rent to family, but if you do, make sure the rents are fair market. 

But in order to qualify for 1031 treatment you must not have accepted the burdens and benefits of ownership of the real estate. 

So that opens up more options than you thought.However, property that qualifies for 1031 treatment is property you purchased with the intent of holding for productive use. 

One last point - you typically do not want to make a C-election for rental real estate because you will give up LTCG treatment and the loss benefit of real estate investments.