The Cleveland Heights police told me that they get about three of these thefts every day... and even questioned how long I have known my plumber! 

Don't get upset when, after buying construction materials for a home in a $20K area, if things like job-site-theft occur.

Your actions are identical with or without the 1031.  

The example "extenuating circumstance" in the FHA guidelines literally talks about a scenario that's exactly identical to yours. 

Then every month when the automated water bill is generated and sent to each tenant it is identical to the pricing structure you city charges.

My understanding is that this policy covers me for events such as fire, flood (except for ground up water issues), extreme weather, vandalism, theft to materials, etc.

But Real Estate agents are few in the Ft.

If true, this structure would 1) provide a very similar if not identical tax obligation on operating income and 2) remove double-tax on capital gain (seeing as the C-Corp never actually owns the deed of the property)? 

Interesting, self employed people have the most sense of identity from their job of people not working in government or Non-profit: So maybe the push to get out of the cube is more about agency and meaning than we give it credit for..

I could show you a million examples of how you could rent similar if not almost identical property for less.