Then they could make more money doing less sales and continue to follow their "teaching passion" by training employees instead of students. 

I'm W2 employee with 5 rentals (4 SFH and 1 multi-family, co-owned with other investors), no Corps and no LLCs either.  

I am a retired federal employee, I receive a pension annuity and a specialty social security annuity, due to my profession, as I am not old enough to collect social security yet. 

Did they hire a new employee who is renting to friends and family or does not know how to screen or collect late rent? 

Quote from @Dave Foster: @Daria B., You're handling your 1031 like a champ!!  

Especially since their employee signed her name on the paperwork as the organizer. 

He even had former employees hire the contractors, so when he didn't pay them, they couldn't sue him but ended up suing is poor employees.He has bragged about never being able to be traceable because he sets up his LLCs in such a way he can operate without legal ramifications,This man has no moral compass and has stolen the retirements of so many people.He did all of this so he could fund his new syndication business MENACE CON, with his other partners Nicholas Trevillian and Jason Von Payne...

Quote from @Dave Foster: @Bryan S., I always found that the steepest part of my learning curve as I transitioned from SFR to STR to Commercial land development and MF (all using 1031 exchanges) was learning what "didn't translate" from the prior type. 

Reach out to someone like @Dave Foster to avoid making a costly mistake. 

(IRC section 121(d))@Dave Foster might have more to add here. ...