Get a Quit claim or Special Warranty deed from the seller to you, (Preferable a Special Warranty Deed or equivalent)5.

Compare my bottom line to those who claim it's fine to invest where you get a $100 a month cash flow and sometimes actually even get rent. ;-) IMHO Thank you so much for your insight.

With enough knowledge you can make a educated decision on which approach you take.My experience:I personally don't sign up for any program who take you aside during events and try to sell packages that is just blatant sales strategy.Once you sign up there is every attempt to make you sign for their programs for bookkeeping, registered agent, LLC or corp setup fee which have ridiculous even with platinum membership.Basic standard structure they suggest to take advantage of multiple deductions can be easily achieved by proper education or work with a good firm like https://wcginc.com  who is local to you.A umbrella C-crop to manage all other LLC properties and take advantage of many tax deductions that are not available with a llc, its also used to take losses up to 100K as startup expenses and dissolve the entity after few years.Few LLC entities for investing in Real Estate, etc preferably in Wyoming or Nevada ( you can find many companies online who can do this for $150 compared to anderson $1500-$3000) , they will claim they have a secret Operating agreement which is bogus.They certainly try to take advantage of tax loopholes and claim to be smart people, my view they are just taking advantage of numbers as per their own statements.

If they did no due diligence, for a 506c it is up to them to verify accreditation but also do not think if the deal goes sour that you can claim you did not know, as its also up to you and you knowingly filed a fraudulent subscription agreement by marking you are accredited.Two wrongs do not make a right. 

I heard but don't know the veracity of this claim, However FLA suffers from a lot of fraudulent claims there by also causing rates to be higher.. 

They can't keep claiming they don't have time to find a place to stay as they've had time. 

If yes, am I eligible for a 1031 exchange even though I claimed the home as my primary residence when it was rented? 

There was a great feed the other day with about 35 awful pieces of advice which mostly noted: "quit claim deed the property"...

Completely agree with you on this; I'm not making any claims to the quality of these lenders here.

I'm sure they also told you their systems will protect against aggressive attorneys and creditors and make you invisible so nobody will ever dare file a claim against you...it's all a money grab.If you are a sole proprietor I am putting my money on the fact a single member LLC in the state in which you live/own real estate will suffice.