(3) if we were to pull the trigger on this, we would likely want to do a Section 121 to preserve our equity gains, as much as possible, and pour it back towards the downpayment of the multi-family.

Indeed that would be my preference, but my network is completely outside the real estate world, so the few syndication opportunities that came my way did not convince me, I couldn’t get past the “this person must be desperate if they are asking money to me”, so I never pulled the trigger, it really just felt like giving away $100k on good faith.

I have bought single-family properties without visiting them, but I had a trusted realtor, contractor, and partner visit them before pulling the trigger. 

What instances might trigger those consequences?

My partner and I have had our eye on a property for a while but never pulled the trigger because we were hoping the price of the property would decrease.

In addition, gain recognition is not triggered by dispositions after the death of one of the parties or by dispositions in compulsory or involuntary conversions (within the meaning of IRC Sec. 1033) [IRC Secs. 1031(f)(2)(A) and (B)].

You have to be the quickest to the trigger these days.

If it's a few thousand to get you more qualified I would pull the trigger not only because your current purchase but it gives you a stronger debt to income ratio moving forward.

Kastle’s Remote Video Guarding enables this by employing AI-enabled video surveillance to trigger live response from a remote Video Operations Center, proactively supporting onsite staff as needed to ward off threats with faster response than guards at less expense.You might be surprised where trouble pops up.

Many states require an LLC to borrow hard money. (3) Decreases liability, minimally, from legal action.Cons: (1) Costs to own and upkeep. (2) Often adds a costly step to buying property, as banks tend not to lend for single family housing directly to an LLC and therefore must be transferred from personal ownership into LLC. (3) Only limits liability if set up correctly—and many aren't. (4) Transfer from personal name to LLC can trigger "due on sale" clause.I'm probably the rare one around here who owns all my rentals under my own name.