That includes marketing it in the MLS (or internet, or yard sign) for sale. 2nd: The contingincies (option contract or short payoff approval, or widow treatments) are all part of your listing agreement, and will need to be disclosed as the MLS and BOR requires.3rd: FAR (Florida Association of Realtors for who want to know) now is expecting agents to accept and submit 1 contract at a time.

The seller falsely claimed he was going through cancer treatment and asked if he could stay in the house while undergoing therapy.

We would then rent a new space in the same park as our current main office for about 10k a month and have that be our main office.Assuming both situations work just as well for the company as far as patient treatment and meet all other needs, which would be the best move financially moving forward for my partner and I?

It may not be possible to completely subdivide the lot so just want to know about the treatment if we did have to sell it as part of a 1031 exchange.

I would budget $3000/year, unless you can get a solid quote.Also, factor in regular termite treatment as a maintenance item, every wood frame property down here has some termite damage or activity, so treatment is a necessity.

Your tax advisor is correct, the portion of your property that has been used as your primary residence will not qualify for 1031 exchange treatment.

My question now would be are there entities such as an LLC that you can report you rental income under were the tax treatment would be different versus ordinary earned "W-4" income from a job?

Everything in my life has changed over the last five years due to the diagnosis and treatment of a chronic illness.

No special treatment, no rule bending, no emotions. 

@Jon Jonhson, as @Harrison Smith mentioned, flips aren't eligible for 1031 treatment.