But make sure you make a file labeled "why I intended to hold this and what changed".

You must have the intent to hold the relinquished property and the replacement property for rental, investment or business use. 

Quote from @Jaycee Greene: Quote from @Jeffrey Eschbach: Investment Info:Small multi-family (2-4 units) buy & hold investment.

@Zach Howard you pretty much MUST hold it in an LLC if you don't have the proper visa or greencard.1) Many attorneys over-hype the benefits of an LLC for each property.

I want to know is it more cost effective or easier to purchase the property alone and put it in a mortgage in our name or purchase the LLC from him that holds the property within it.

You want to be able to demonstrate that your intent in purchasing, subdividing, and improving was to hold for investment use. 

Once you have completed the consolidation portion of your 1031 exchange you now own a more expensive (and probably really nice) property that it must be your intent to hold for investment use. 

Quote from @Jaycee Greene: Quote from @Malcolm Grundy: Investment Info:Single-family residence buy & hold investment in Saint Louis.

Quote from @Hunter Hanlon Taylor: Investment Info:Single-family residence buy & hold investment.

Tennessee holding steady at #5And of course California came in dead last.