@Brandon Hall did a fantastic job of explaining the issues with cost basis of LLPs, and is right on target that the sale of partnership interests are specifically excluded from 1031 Exchange treatment. 

My dad is in his upper 80s, he's not deaf yet, still plays his French horn in concerts.I agree with your points, be careful about pandering, many don't want to think of themselves as elderly needing special attention, on the other hand, others enjoy it and some feel entitled to special treatment.

There's no magic here.That said, rentals do have good tax treatment.

My mother died of lung cancer, she suffocated in what was basically a coma.

I don't understand how the tax treatment has any bearing on my current cash flow.

Their emotional and mental peace of mind means much more to them.Some examples of our seller's stresses:- The older couple that wants to move to live with their kids because they can't care for themselves anymore- The single mother who does not want to be an owner anymore because she cannot handle maintaining the house- The man who just found out he has cancer and needs quick cash to move and get treatment- The retired couple who tried out investing in real estate but want to get their money out to open a storeEach and every one of these sellers walked out of our closings with a smile on their faces and a hug goodbye.We have all educated ourselves and deserve to get paid for our knowledge of how to structure these deals.  

@John D.Are you asking for suggestions re: exit strategy - or about tax treatment?

The minute you deny a tenant, and they claim that you denied them because of their service animal, you now have to show your screening criteria to the judge and it has to give all tenants equal treatment, or it will he considered discriminatory.

I had a really bad accident that left me with some physical ailments, it wasn't until I stopped just accepting the doctor's statements and questioning the treatment, finally locating a new doctor that I got better.

So we apply treatment that acts as a pre-emergent.