Is it possible for us to form an LLC and 1031 these into one 1.5 million dollar property in Oregon so long as we abide by the timing guidelines concerning the exchange. 

If you want to sell a property and keep deferring that tax by NOT recapturing the depreciation, you can do a 1031 exchange where the proceeds are held by a licensed intermediary for a short time while you identify and close on a replacement property.

That's according to The Business Journals' inaugural hottest housing markets ranking, which is based on third-quarter listing and sales data from Intercontinental Exchange Inc. 

The good news is that if since it is being used for investment use, you could also qualify for a 1031 exchange and take advantage of the 121 exclusion.

Or the dollar devalues, to be more precise.  

@Jacob Sherman We have a partner that is going to sign on off the loan docs in exchange for a piece of the fees or a piece of the GP ups, still negotiating.

If this is the case, once their attorney reviews the lease and explains that they are indeed responsible for repairs, you could help out, if they don't have the money, and offer to pay for the repairs in exchange for a lease extension, or some type of repayment plan over time, etc.  

Otherwise many many many agents spend a lot of time and effort finding property and writing contracts only to find that the funds can't be transferred, or they don't have immediate access to the funds, or they need some kind of approval from 3-4-5th parties, or there are exchange restrictions, or 9000 other excuses.You probably need to find them a commercial broker who can handle whatever kind of investment they want to make. 

.: Quote from @Xin-Ran Jiang: But when they bring up the syndication approach of LP+GP, that they will help me raising 35% down payment from private money in exchange of 65% share of ownership, I shocked.

@Dani Beit-Or It's my understanding you can't 1031 exchange a primary residence.