You should speak with a CPA and a tax attorney to be safe.Regarding your thoughts about 1/3 equal splits - sounds good until you check out the cost of getting a DSR rehab loan or borrowing hard money.

Future gains on the investment portion may be deferred with another 1031 exchange, while gains on the primary residence may qualify for the $250k/$500k exclusion if residency requirements are met.This post does not create a CPA-Client relationship.

Do you need an S-Corp depends on your overall tax situation and profit you are expecting form this flip.This post does not create a CPA-Client relationship.

The STR loophole would work on the properties above, and then I could connect you to my CPA who has some great strategies like investing in Solar to keep more of your money. 

Role-playing.     . you paid $300k 10 years ago, it’s worth $660k, (so when you sell you net $600k to make math easy.)and your cpa determined that you owned zero land, so it’s all depreciatable. you owe 15% on the $300k gain plus 25% tax on $109k depreciation recapture, so you owe $70k in federal taxes, then California reaches out for another $30k?  

Balance debt and cash to preserve flexibility and scale efficiently.This post does not create a CPA-Client relationship.

Like you said, every time you visit family, you can check in on the properties and now the trip is a tax write off (consult your CPA). 

If it were a stick built home instead of a mobile home there probably would be less risk as long as property was insured.Yes, this is my plan to get the land back, have attorney and title company check all the legal boxes and ask my CPA to write it off as a lossBuyer is going to deed the property back to me and I'll take a Promissory Note. 

Start small with a single property to learn the process and scale as you gain experience.This post does not create a CPA-Client relationship.

While effective, reverse 1031 exchanges require thorough planning and are best suited for strategic investments.This post does not create a CPA-Client relationship.