I am in one of the higher tax brackets and could be saving around 40k~ a year on taxes with this.

Congratulations, you get to share your partners tax burden and pay the depreciation recapture at ordinary income rates. 

Tax credit 45L for a 90 unit or 112 unit project? 

Everything in tax depends on the personal situation. 

Even if we do know the exact transfer tax, we haven't seen the contract to know if the transfer taxes are being paid by the buyer or the seller or if they are being paid 50/50. 

To minimize taxes, consider the following strategies:1031 Exchange Before Dissolution – The corporation could complete a like-kind exchange, allowing investors to roll their ownership into individual properties while deferring capital gains tax.

I assume there is zero or almost zero appreciation and that’s the reason you aren’t selling tax free?

No benefit tax-wise. 

I have just received a draft of my tax return with the schedule E.

Sure you’ll be taxed on it.