Next year my husband will graduate from medical school and we will relocate for the residency program that accepts him.

She had a chapter 7 bankruptcy 4 years ago (that she readily informed of on application) and I'm deducing that it was due to medical from her husband. 

@Caleb Heimsoth I'm still within the capital gains exemption of have lived in the property for 2 of the past 5 years. 

You have to consider number of factors before doing this, the property would have to be appraised and would be added to your income for the year in which you make the distribution, likely pushing your tax bracket up.If you simply wish to get into self-directed investing you may want to consider truly self-directed Solo 401k, it has number of advantages over SD IRA such as contributions limits 10X higher, no need for a custodian, checkbook control, exempt from UBIT on leveraged real estate and more.

I have a BS and MS in Engineering and I design Class III medical devices for a living.   

You can not take possession of property for 20 days after auction date.Property owner gets 180 day redemption period unless it's a homestead exemption /ag exemption property then it's 2 years.If property is redeemed they have to pay you auction price plus 25%.

Financial, medical etc.

Property when inherited appraised at $ 1 millionImprovements $ 100kMarket value now $1.7Single exemption capital gain $250kCapital gain: $$350kProperty that will be acquired $600k (swap) +$1.1 million cash 

When I search there are some commercial NNN properties which are around or over $1MM with corporate guaranteed leases for atleast 10 years and goes up to 20 years (like Fast food Restaurant chains, Banks, medical offices etc).

As we know , if under the new TOPA law, i will be exempt from TOPA.