Also, if you have a below market interest note, if you wanted to sell that note for any reason in the future for liquidity you would be affecting the value of that note negatively.

Why would you want to sell that from your portfolio?  

Back when I started selling foreclosures, the REO (real estate owned) inventory was crazy high.

Tyler local, so sparked my interest whenever I see anyone post about the area.Given that your duplex is fully paid off and generating a steady cash flow of $1400 per month, it's understandable that you're having second thoughts about selling it.

So I wonder if I can sell my home in Idaho, purchase the new one under my personal name, then how many months or years must pass before I can setup an LLC as the owner of my primary residence, or if you think that will be a good idea? 

Be mindful of a gift tax implications if you sell a house for less than FMV.Also be mindful of transactions between related parties when selling at a loss.

Or what your actual return on investment would be if you continue to rent vs. sell now.

If so, they can sell within 2 years and not pay capital gains taxes on the sell of the home.They could take that money and buy multiple rental homes in other areas if they wanted, or use the money to downsize in to a different home while still having money left over.

Looking for points of view on selling or keeping properties in Toronto, Ontario.

Quote from @Kobe McDaniel: How do you get Boomers to sell who are sitting on multiple properties?