I work with clients that 1031 into DSTs, some of which are slated from the start to go into the Sponsor's REIT utilizing the 721 UpREIT.

If the goal is to retrade after contract and prior to COE, you might have a shot if there was some sort of egregious delay on the seller side (e.g. on a recent project I had a dozen buyers stuck in escrow for nearly a year longer than expected due to issues with utilities), but even then it's a long shot. 

Even though I don't pay utilities the wear and tear on an AC is a huge expense. 

@Atul Mohlajee not sure who your attorney is, but three of our attorneys approved our automatically renewing lease that requires tenant to give proper Notice so it does NOT auto-renewal.Michigan law also allows any length of Notice requirement, ours is 60 days.That aside, a judge can rule however they want, forcing the losing side to go through an expensive appeal process.Regarding the 1.5 SD, they are legally allowed to deduct any damages, then apply the rest to outstanding rent.My opinion is that the PMC should only be able to charge:1) Rent + lease utilities until a replacement tenant is found (Michigan statute)2) Whatever the lease contract states

It makes it much easier to get tenants to pay for their utilities (they can put the utilities in their name).  

You should also add 1-2 months of lost rents due to repair time and marketing to find a new tenant, and your carrying costs (prop taxes, insurance, utilities, mortgage, etc.) to this amount.How many months will it take you to recoup that amount via the higher rent amount versus whatever increase the current tenants agree to ($1150 - $825?)?

I will have some support from my family as well to utilize gifts from family.

For more powerful financial software you can utilize Quickbooks, with much the same inputs but much more flexibility and greater detailing.  

I utilized them for my LLC creation!

Then you can utilize her money later to grow the portfolio faster once you have demonstrated success.