The study needs to done for tax filing purposes?"

They lowered the “taxable value” by 40-50% and then raised the tax rate about 35-45% lowering everyone’s taxes that year.

Or we gradually perform high-quality updates for a live-in flip, then roll the equity into a new home.Regarding rental income, we aim to boost income, lower our effective tax rate by generating more low tax-drag income with rental income (since there’s not much we can do to lower out W2 tax bills) and have retirement cash flow.To compare the financial impact over 10-20 years, we want to analyze renting versus flipping.

You will lose ALL tax benefits and owe all the capital gains that would have gone away. 

Intangible assets like goodwill or tangible personal property (e.g., equipment) are excluded from 1031 treatment and are taxed separately—goodwill is typically taxed as a capital gain, while equipment may be subject to depreciation recapture taxed as ordinary income.To minimize taxes on the sale of the business, consider strategies such as Opportunity Zone investments, which defer gains until 2026 if proceeds are reinvested in a Qualified Opportunity Fund (QOF), or structuring the sale as an installment agreement to spread taxable income over multiple years.

https://www.tn.gov/revenue/taxes/franchise---excise-tax/exem...

The owner is estimating that the Tax Map Key will be available in 10-24 months. 

you need to dodge capital gains and foreign buyer tax.. you should consult a tax expert..If I was in this situation I would just sell (not advice) and buy a cash flowing mobile home park in the midwest

When it comes to your 1031 exchange the LLC really isn't the issue.The IRS cares about which tax return reports the activity of the property.

Transfer Fees or Property Tax Reassessment Some states impose a transfer tax or reset the property tax basis when property ownership is moved into an LLC.