Would be a great way to exchange ideas and find out what is working best.

They are passive entities that hold institutional investment real estate and are 1031 exchange eligible.

Also, since I don't know what your father-in-law's plans are for the properties when he is no longer around, he might consider hanging onto them until he passes and whomever inherits the properties should have a stepped up tax basis which is a very big deal.And, as another idea, he can probably do 1031 exchanges to other properties if that is his goal.He may need asset protection advice and estate planning advice to go along with his investing.

Email me and let’s exchange numbers real quick.

I had looked in BizJournals & County Records & we also have Business Observer here.They have all listing that are public including foreclosures & lists the names of the buyers.Specifically, I wanted to know how is it that I can find their info because all it lists is the buyersi;e Residential Real Estate Transactions - Hyde Park Scattered Apartments II LLC to Castleton Exchange LLC, 320 N.

I know a 1031 exchange will not work since this has not been an investment property. 

PM and we can exchange contact information.

It was a 1031 exchange and our attorney handled it flawlessly, even when a few wrinkles (tenant not leaving when the lease was up, cash for keys, a cleanup holdback at closing that could have triggered capital gains on the holdback amount).It all eventually worked out for our client's benefit and a big part of that was having a staff attorney.

I'm not familiar with 1031 exchange. 

I file jointly so I know I'm okay on the cap gain with a 121 exclusion; however, my question is can I use a 1031 exchange to avoid the depreciation recapture?