You need to have the income and tax liability to support the depreciation.

Forming an LLC for your rental property can offer liability protection, but no real tax benefit.

So the question becomes based on their individual and personal tax situation what is the estimated tax burden they'd save? 

Tax-Free Exchanges: While 1031 exchanges aren't available to SDIRAs, the tax deferral within the account means you can sell property and reinvest proceeds into new opportunities without immediate tax consequences.

Being a real estate professional allows you to treat the income as non-passive, allowing higher high income tax payers to pay less in taxes.

Now, this would obviously be negatively cash flowing since you would need to pay taxes and insurance.

Sell, get the tax savings while you can.

Taxes: Be aware of potential transfer or capital gains taxes, depending on your state.4.

I didn’t see your location in your profile or your post, but assume at least 17% state/federal taxes leaves you with $10k/yr. 

(As AZ and your current state will fight over who gets to tax your gains with the federal government.)I have to throw most of the shade on your horrible tax guy/cpa who didn’t tell you renting it out was a $50-$100k mistake.