Hello – I'm looking for confirmation of understanding/ advice relating to transferring property into LLC and treatment from a tax perspectiveMy parents completed a 1031 exchange over 2 years in their own names – they file a joint tax return.

The issue at hand is that you and your husband must have the intent to hold the replacement property for rental, investment or business use in order for it to qualify for tax-deferred exchange treatment. 

I would give them the red carpet treatment.  

While it's true that I am generally much more likable than you I receive no special treatment from the mods here at BP.

It'll be back, Austin is one of the sore spots in the most explosive housing era we've seen.

I'm passing that treatment on to my tenants and guests. 

Evidence may include:two months consecutive bank statements or electronic transfers of rental payments for existing lease agreements, orcopies of the security deposit and first month's rent check with proof of deposit for newly executed agreements.See Treatment of the Income (or Loss) below for further instructions.

The only permit requirement is for sewage treatment.  

And anything you spill goes right over them, so red wine or pasta sauce will do a number on them.At least with wood finish, it blends in well, though curious to see any and all replies.

If you decide to do this make sure to plan ahead and track the income and expenses separately for each unit since LTR tax treatment is different than STR.