At this point I don't have an entity, but I was thinking of setting one up, specifically for the PM side of things if I could manage tax benefits that way. 

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

Be as detailed and specific as possible when mentioning your future plans, current operation/experience level, ongoing projects, etc.

Specifically, there's job growth (Intel, Honda, Amazon, Nationwide, etc) and the population is growing (unlike Cleveland or Cincy).

I do think something like this is going to be more attractive to a specific audience,  so I'd do the work to analyze that piece of it - and consider other amenities at a similar investment level that might have broader appeal in that pro/con list. 

However, there are specific rules and requirements that must be followed to qualify for this tax deferral.In the situation you've described, your client wants to use a 1031 exchange to buy his mother's land.

It is landlord-friendly, and specific pockets have gone upwards of 2-4x in the last 5-10 years.

And secondly, the quality of your specific portfolio - rents stagnant?

If you are planning on living in the property as your primary, you can request to terminate the lease as you will be taking possession for owner occupy, but confirm with a local real estate attorney on the specific verbiage and process as it varies by state. 

RCW59.18.260 ...No deposit may be collected by a landlord unless the rental agreement is in writing and a written checklist or statement specifically describing the condition and cleanliness of or existing damages to the premises...Return it quickly to avoid any further action from them that could cause you more grief.