Areas near oil production hubs could experience economic booms, creating localized opportunities for real estate investments.Beyond these broader economic initiatives, Bessent has been vocal about extending or even expanding the 2017 Tax Cuts and Jobs Act (TCJA).

So the question becomes based on their individual and personal tax situation what is the estimated tax burden they'd save? 

You’ll have 45 days from your sale to identify them and you’ll have to buy enough of them, and only them, within 180 days of your sale to meet your 1.1M requirement, or face taxes.

Tax-Free Exchanges: While 1031 exchanges aren't available to SDIRAs, the tax deferral within the account means you can sell property and reinvest proceeds into new opportunities without immediate tax consequences.

Being a real estate professional allows you to treat the income as non-passive, allowing higher high income tax payers to pay less in taxes.

Have any idea about Gift tax in NY?

Will the title company put this property under our LLC name, and won’t be required to legally inform HUD/tax authorities. - will it influence property taxes once we move to conventional loan in 3 yrs? 

You will want to fully understand the tax reporting burden you will face. 

Often times you will pay much more in taxes than if you pulled the money out, paid the taxes and penalty and then started investing in real estate.For example, with the financing you mentioned, the IRA must pay taxes on the portion of the profit earned by financing. 

Attractive Tax Environment for InvestorsGermany offers favorable tax policies for property investors.