If sitting on "Mt Equity" there is a number of other ways to utilize that, to procure the new personal residence, shift the prior into a qualifying status FOR a 1031, and then ya do the dang sale and 1031.

Once you go to the listing agent, see the house and want to make an offer, that agent is the procuring cause.

See the items below (sorry copy and paste seems to have colored text in a weird way I can't fix):https://leginfo.legislature.ca.gov/faces/codes_dis...Noted at: 17708.03."...activities of a foreign limited liability company that do not constitute transacting intrastate business in this state include all of the following:(1) Maintaining or defending any action or suit or any administrative or arbitration proceeding, or effecting the settlement of those, or the settlement of claims or disputes.(2) Carrying on any activity concerning its internal affairs, including holding meetings of its members or managers.(3) Maintaining accounts in financial institutions.(4) Maintaining offices or agencies for the transfer, exchange, and registration of the limited liability company’s own securities or maintaining trustees or depositories with respect to those securities.(5) Selling through independent contractors.(6) Soliciting or procuring orders, whether by mail or electronic means or through employees or agents or otherwise, if the orders require acceptance outside this state before they become contracts.(7) Creating or acquiring indebtedness, evidences of indebtedness, mortgages, liens, or security interests in real or personal property.(8) Securing or collecting debts or enforcing mortgages or other security interests in property securing the debts and holding, protecting, or maintaining property so acquired.(9) Conducting an isolated transaction that is completed within 180 days and is not in the course of a number of repeated transactions of a like nature.(10) Transacting business in interstate commerce.It also states in the section following the above excluded items:(c) Without excluding other activities that may not be considered to be transacting intrastate business in this state within the meaning of this article, a foreign limited liability company shall not be considered to be transacting intrastate business in this state merely because its subsidiary transacts intrastate business in this state, or merely because of its status as any one or more of the following:(1) A shareholder of a domestic corporation.(2) A shareholder of a foreign corporation transacting intrastate business.(3) A limited partner of a foreign limited partnership transacting intrastate business.(4) A limited partner of a domestic limited partnership.(5) A member or manager of a foreign limited liability company transacting intrastate business.(6) A member or manager of a domestic limited liability company.

I was happy to give up 50% ownership knowing that my guys that were procuring rehabbing and handling the day to day of tenants were my partners.

I don't think that would be necessary to procuring a good agent honestly and would just be an unneeded cost.

When I am able to procure good numbers on a LTR I will purchase additional at that time. 

Ability to procure deals?

If you were able to procure financing that allowed you to buy 10 identical homes to the hypothetical one described in this scenario, each with just $10,000 on the table, you would have ultimately spent the same $100,000 described in scenario #1 at the end of the year.  

If I got a great deal under contract for a cash purchase, but the purchase price is $1,000,000+, would the investor I'm looking to assign a contract to be willing or go through the effort of putting together $1M+ in o...

You may be lucky she hasn’t found you one yet I can only imagine what a tenant he/she procures would be like.