Welcome to BP @Jack Forester, an actual community where people genuinely care to help! 

Recognize that the mentor will want to be paid.

The depreciation recapture is all recognized in the year of sale. 

Genuinely appreciate you taking the time to read / respond.

On Wednesday May 18th:John Hyre a community owner himself, and a nationally known tax attorney will be speaking on shielding profits from sales, IRA usage, and will be taking questions from the audience.A nationally recognized law firm will be doing a four hour training session on Fair Housing Issues and awarding training certificates.Bill Carr of RainMaker, whose clients are the A List of independent retailers will be working with JoAnne Stevens to explain why and how retailers can and should become first time community owners.Bill Carr will moderate a panel of A List retailers from all over the country who will discuss their successful methodologies and take audience questions.Rishel Consulting Group will discuss issues of compliance for community owners and retailers along with solutions to the problems these compliance issues create.To put the day above for yourself would cost you over $8,000 but it is included in the attendance fee for the meeting. 

You should recognize the expense is coming and budget for it above your reserve.

I am just genuinely tired of paying rent when I could if anything starts paying towards a mortgage for the same price, maybe even cheaper....Or maybe I should be patient and stick it out (with renting) until a good multi-family deal becomes available in my market?

Start with nurturing the relationship and show your genuine concern.

It makes it much easier to recognize a good investment and reduces your chances of mistake.

The amount that you trade down by (50%) would be considered taxable, and my guess would be that all of your taxable gain would be recognized and the 1031 Exchange would not provide any value.