That's a bit different than this situation, but just wanted to share.

Not considering it will take years of perfect rental with no vacancy or capex just to “break even” with where they are today. 

Just as the person who works at the clothing store has a conflict of interest when they say that the piece of clothing you are trying on looks great on you.

The IRS could apply this doctrine if it appears that the series of transactions are structured primarily to achieve a specific tax outcome, such as avoiding taxes.Regarding the 1031 exchange, while in-laws are not considered related parties, the transaction could still be scrutinized due to the complexity and nature of the other transactions involved.

@Lawrence GalianoYou would BOOM in the south.

Don't just read the lease!

Either way I wouldn't do one in your area that wasn't driven into the ground.

I wasn't going to let this deter me so I began looking for deals but the numbers just didn't pan out.

The only purpose of the account would be to collect payments and pay bills like taxes and insurance on assets held by the LLC.

That's just how it is here.