In addition due to prop 13, the tax base is a fraction of if it sold today.   

Very simply, large corporations pay into the tax base of that local community and that revenue is used to improve the community and make it a more attractive place for people to live.

I think it would be financial suicide to give up a 500k a year job that you know how to do and is secure to launch into thinking your going to replace it with rental income.. unless your sitting on 5 mil plus in  cash with no debt.

Sometimes they forget to tell you that many tenants in Detroit don't pay (depending on the property manager skill and the type of tenant) - but taxes are very high in the city and so is insurance. 

Take the tax free sec 121 first and then 1031 the leftover.

While the co-signers add some security, the family’s newness to the U.S. and uncertain job situation make them a higher risk overall. 

In order to defer all tax you must purchase at least as much as your net sale ($500K ish). 

When parents employ their minor child, the child is exempt from Social Security and Medicare (aka FICA) - if under 18.

A 1031 exchange would use all of the tax in the purchase of your next property.

It's a riskier loan given you do not carry a social security, no US credit & no experience.Due to increased risk comes mitigation (Lower LTV & Higher Rates)