Sellers are notorious for not communicating any changes in their unit counts to avoid paying taxes.  

Would it be wise to buy the land with cash we have or utilize as down payment to avoid PMI?

These were expensive and unnecessary mistakes that cost us LP's. 

Selling at FMV avoids the gift tax but provides your child with a higher tax basis, reducing their future capital gains liability.A better strategy for selling below FMV is to sell the house at FMV on an installment note, then forgive interest and principal annually up to the gift tax exclusion amount.

I avoid investing in rough neighborhoods because I am a professional.

This approach helps maintain strong relationships with tenants and avoids disputes.Hope this helps!

I read about a 1091 exchange and if i reinvest my money into another property within 6 months then ill avoid paying the taxes on it. is this a good plan, if not do you have any other suggestions.  

No money troubles but I did lose my whole family earlier this year and dealing with some health issues as well so I don't really appreciate his extra unnecessary unwarranted crap everytime I have to deal with him and really im just trying to save my home, it's all I have left.

Small pain to avoid bigger pain later. 

Cutting unnecessary costs could improve profitability.Holding onto a property with a low interest rate in a growing market like Tampa is a strong position, even with limited cash flow.