All work done to raise value after TOD is not legally in that stepped up basis.  

As long as we would be legally allowed to proceed with this plan, then the question remains, as you point out, what is the tax burden for the partial 1031 exchange.

Keeping pets requires a one-time nonrefundable pet fee of $200 (per pet) as well as an additional $20 monthly rent for each approved pet.

Perhaps if your partner was a general contractor or handyman type there may be some merit there to reduce costs / increase profitability.If your partner enjoys deal sourcing, a better move might be for him to become an agent - so he could legally collect commissions from finding deals and managing properties for multiple people. 

Legal entities are set up for this purpose.  

Cash offers are often particularly appealing to sellers because they eliminate the uncertainties that come with financing, such as loan approval or appraisal issues.

Our privately owned and centrally controlled monetary system, known as the Federal Reserve, and the legality of Fractional Reserve Banking is on a crash course for a battle between Freedom (Property Owners) and Royalty (the banks). 

See if they will pre approve you for a line of credit.  

Quote from @Shaun Ng: Hi, I recently have a legal name change, and I own 2 rental properties in Fairfax county, VA.

Do the legal Tenant laws of eviction still fall under a room rental?