Due to Engelo's team and contact I was able to secure everything from a distance (CPA for taxes, Lawyer for the setup of the LLC, Insurance, inspection etc etc..). 

You would want to work closely with your CPA or a good 1031 company to nail down the timing of it all. 

Do you have a CPA that specializes in real estate taxation?

I am using a CPA to do my taxes. 

I also am not a CPA but I do work with CPA's that give me the guidelines and rules with which I can use this strategy. 

We have 2 W2s( Me+ Spouse).Have a primary residence SFH and 2 rentals.I have around $40K of rental income after all the deductions/depreciation.This time I used a CPA and I am a sure he tried his best to get all deductions possible.

Bonus depreciation is an incredible tax benefit, but when you take the time to combine it with the right property and sponsor, that will prove to be a wining formula.Disclaimer: I am not a tax advisor or CPA.

Jonathan Bock, CPA 

If you are able to put the property in a business name and separate the flow of money and put a wall between personal and business you can protect your personal assets.Taxes - It is going to make things a lot easier at tax time to show your CPA what your expenses have been. 

Quickbooks has gotten expensive and I'm considering just using Stessa and then sharing the reports with my CPA at the end of the year.