Do this quickly because some counties have a time limit on when you can appeal.I recommend you research the market for:- Comparable Property Sales- Condition of your property, including anything that may affect your property's value- If you are really serious, an expert appraisal may be worth the effort.

If the extent of your real estate business is renting out your basement than no, a Wyoming trust is not necessary (in fact, a Wyoming trust is not necessary for 99.9% of real estate owners)....you were contacted by a fear mongering sales person, not someone I would consider to be offering credible services. 

@James Thompson Transferring property from your in-laws to you can be done through a gift, sale, or trust transfer, each with different tax implications.

But if it’s a sale, some buyers might be okay with a few unfinished details, especially if you disclose them upfront.

Purchase price: $275,000 Cash invested: $294,000 Sale price: $355,000 Seller was behind on pay HOA payments and in risk for losing the property.

In California, transferring ownership could trigger a property tax reassessment,To maintain compliance, a qualified intermediary (QI) must facilitate the 1031 exchange, and you cannot take direct possession of sale proceeds.

Definitely join your local chapter of REIA (real estate investors association) or join one of the ones that are fully online (Columbus and Cincinnati).

Purchase price: $275,000 Cash invested: $294,000 Sale price: $355,000 The property is a 2 bed 2 bath with a den and a 1 car garage.

If you're lucky enough to get a free and clear property where the seller is willing to finance, this reduces much of the risk associated with seller-finance.I would make sure the title is then moved over to your name, especially since there is not a risk of a due-on-sale clause being triggered.

Selling the Wrap Note is not a good solution to solving a Due On Sale.