If 1031 is to be implemented it must be done on the property level.2. 1031 generally does not apply to IRAs since they are tax-exempt. 3.

Rentals generate passive income, so an S-Corp offers no added tax benefit.

Since you are renting out part of your primary residence in Maryland, your main concerns should be liability protection and tax compliance rather than complex asset structures.

Please recommend a lawyer who works with fixed fee and does not charge for every min s/he talks to you. 

Use umbrella insurance as an additional safeguard, especially if you opt not to form an LLC.Avoid S-Corp taxation for rentals, as rental income is passive and not subject to self-employment tax. S

From a tax perspective, you'll want to take what you paid for the property plus calculate the improvements you made to the property during your time of ownership.

We pay payroll taxes and workers comp, we comply with state and federal laws regarding work place safety, PTO, vacation, labor laws et al.

Quote from @Ronald Rohde: Have you contacted a lawyer?

Quote from @Zara Massoud: Your new PM is correct and the old ones were wrong.The property manager must have your social security or tax ID number on file.

I used to live in the city and the taxes and water bills are nightmares.