And I want to clarify I wasn't trying to shaft the agent. 

However, the depreciation claimed while the property was a rental must be accounted for upon the future sale of the personal residence, which could increase your capital gains tax liability.The adjusted basis of the property (original cost minus depreciation) will be used to calculate gains or losses at the time of sale.

My question is can I form an LLC to purchase the property or must it be through my personal name?

To defer all tax you must purchase in total at least as much as your net sale.

Quote from @Brandon Weis: In your opinion, as you are starting out at 0 reviews, do you think it is a must to beat the competition on price to overcome customer's hesitancy or lack of trust with no reviews?

If 1031 is to be implemented it must be done on the property level.2. 1031 generally does not apply to IRAs since they are tax-exempt. 3.

Debating closing off my calendar but fear on missing out on bookings while I try to transition to MTR.

The lot works and ok with living in one unit, just trying to find people that have executed them in Los Angeles City.

I realize I must hold onto the property for at least 5 years.Questions:I assume 1031 exchange is possible as in-laws qualify as an arms length transaction?

They must be totally desperate!