A quote at 6.85% & 2.5 pts (Lender and Broker combined) at 75% LTV  5/1 ARM 30 Yr Amortization on a purchase with a 765 FICO and just 1 other owned properties felt like a pretty good offer (Borrowers DTI was too high for bank) When we presented an 85% LTV and 8.150% and 3.5 pts on a 10/1 ARM 30 Yr Amortization - the borrower jumped at it for the extra LTV even though he had the liquidity to move forward on either.Sometimes situations shock you, I almost completely disregarded the second quote but turned out to be the winner for hte borrower.

@Steve@Steve Hall I am not a 1031 expert by any means, but from what I've found I will still be able to quit claim into a single member llc that is a disregarded tax entity, then any future sales will come from that. 

@Nik DivakaruniIf you're treating the LLC owned by you and your wife as a disregarded entity, selling it to someone would generally be considered an asset sale.Like @Basit Siddiqi mentioned, there's no reason for you to get a K-1 (i.e. remain an equity investor) going forward as you have sold. 

And completely disregard that property condition is already included in the appraisal.Anyway.. we've had a few cases like those the past 2 years.

No.Technically a SMLLC is a 'disregarded entity', not a 'passthrough entity'.There is zero tax difference between operating a SMLLC taxed as a disregarded entity and holding the real estate assets directly.As @Ashish Acharya has stated, there is only (potential) legal benefit, which you're not taking advantage of as the assets are titled in your own name.

i made around 8k on my s-corp and i took that money out and put it into my llc how would i have to report it?

If you could just disregard laws by putting wording in your lease, every landlord would include wording like: "If tenant is delinquent in rent for more than 3 days, owner can repossess home".

Honestly, it sounds like MLM talk where you get the nice big presentation about how you're going to be a rich real estate investor right off the bat with complete disregard for the listener's actual capability to responsibly undertake such large commitments.The notion that larger units are less risky than smaller units is flat wrong.

the ramifications for landlords disregarding the law for disallowing them here in the US is real

If the trust was irrevocable it would need to file an income tax return.The IRS considers a revocable trust to be a "disregarded entity" meaning it doesn't exist for tax purposes.