Now, I've heard whispers that Globeville is about to go completely nuts and might be the only place to invest in Denver Proper for any B&H investor. 

Are you using a 1031 Exchange company...as in, someone who is assisting you in structuring it properly?  

If you and your wife ran a sole member LLC which earned income that needed to be reported on Schedule C, then you can each file your own Schedule C for the LLC in order to properly split your SE tax between your Social Security accounts.

If you decide to do it, it would be wise to obtain a valuation by a third party or if that proves to costly develop your own comparables to justify your allocation.

@Wai FungI can help with development projects, particularly development of SHF projects and multi-family units.

With a target customer segment in mind, then you set about developing a product or service that your customer is willing to pay for that consistently meets their needs better than the competition.When we bought our two SF rentals, I used that same approach.  

As a developer, it's important to have an understanding of zoning and some sense of how much you can densify a site.

Here are the 5 basic steps:  First, you must define your niche and develop your business plan.

I do not know the proper channels to follow and move forward and would love to intern with someone in the NJ area.

After research and two visits to house (in Sayville, NY) there is interesting situation developing: this property is in very good condition, and need only some paint and few gallons of clorox, utilities are off, comparable houses in area were sold for #380-420k.