I mean they get done but its so foreign to what I am used to.

Total investment: $420k, with a 1031 exchange offsetting $300k. 

Might it be smarter to offer a slightly lower monthly rent in exchange for a tenant who feels more content.

If you want more cash flow and want to walk away with more of the 80%, perhaps identify another market and do a 1031 exchange so as to not pay capital gains taxes.  

Is he a confidential FBI informant who is allowed to break all the laws with impunity, in exchange for the "service" to feds?

Is it possible to do a 1031 exchange and use the proceeds to buy a house using hard money, then refinance into a long term loan?

So if the partnership would not be allowed to purchase the entity together and I were to buy it, if we were to force our way down this road, would be to set up a legal agreement beforehand, I would buy the property since a partnership can not, and then the exchange for  ($$ + assigned roles + etc), my partner receives 50% equity?  

They have several other LLC's such as Home Partners that purchased properties at low prices and then quit claimed them to Guardian and then Guardian sold them to people who needed to 1031 exchange money into another property.

A 1031 exchange is NOT available for owner occupied property so that’s the bad news.The good news is for owner occupied primary residences, for married couples, the first $500,000 of pain is tax free.No need to worry about a 1031, live in the house, sell it, use the $500,000 exclusion and you pay KP tax on whatever profit may exist,2.

Reach out via PM and we can exchange info, if you like.