So anyway one can pay the  20k and get some basic theoretical knowledge but one should be realistic this is a big cash up front business.. your not going to find consultants doing this work on the come.  100% agree.

It’s crucial to consult a real estate attorney and tax advisor to structure the transfer in a way that minimizes tax consequences and aligns with your objectives.

Wouldn't hurt to consult a tax pro just to make sure there isn't a more tax effective strategy but I don't think lending provides any tax shelter.

As for the legalities of setting up an LLC to protect you and your partners, I would consult with an attorney for best judgement. 

Consulting a tax advisor or 1031 Exchange expert is essential to determine if the benefits outweigh the hassle.Taxes Without a 1031: Without the exchange, your parents will owe capital gains taxes.

Always consult with your attorney before you rely on the above information.

@Erik Estrada I'm an investor, a consultant, a broker, a lender.

If things get tricky, consulting a local attorney experienced in landlord-tenant issues can help you handle the situation properly.

But consulting with the town would be good to try to understand what they're permitting process is like.

Consult you insurance broker for specifics but I found this policy to be very protective and reasonably priced.With regards to an umbrella policy they are typically good to have.