The sum total of taxes of each of the 4 units will usually be higher than if it were apartments.

Quote from @Devin James: Im currently learning this lesson with New Builds that have taken twice as long to complete than anticipated.....Finishing a Real Estate project ASAP is critical because...1) Holding Costs add up quickly- Loan Interest- Property Taxes- Insurance2) Investor Capital- Our financial projections are dependent on how fast we can turn our investors capital.

Many months of costly vacancy, local market rent & resale deteriation, special assessments, property taxes and maintanance fees suggest a quick sale would have been the wise thing to do 2 years ago.

My CPA isn't well versed in 1031 exchanges and I want to know the effect of transferring title back to our names from a tax perspective. 

Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.

High taxes.

The same thing you claim on your tax return for your properties.

They are grandfathered in, the property was built prior to those standards.

Line Item Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $500 Business Hour Service Calls $80/hour + Materials Cost + Tax After Hour Service Calls $110/hour + Materials Cost + Tax HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Vendor Cost + 10% Oversight Fee

If you need financial help, ask under the "Finance, Tax, and Legal" forum.