We are in a time crunch as 1031 property identify period is ending and we are loosing our current lease we live in.We sold a problem property and would see about 120k profit, so because sales tax would be significant we are doing 1031 exchange and putting the proceeds into this property then adding cash and buying it under LLC.

This can of course include cost segregation and bonus depreciation etc.. and if we assume it is not cash flowing, long term (a few years) the property would have to generate at least a good amount of equity, because we still want it to be a good investment in the long run, not just loosing money for loosing money sake and with the short term goal to provide tax shelter.

In essence, the reverse contingency gives them a period of time to try to find a new home before they are legally bound to sell their home.

I gave them a list of things to clean and do which offended them and they ended up loosing the whole deposit since they chose to do nothing.  

There are bound to be many more questions should this gather momentum so I wanted to started the thread now.Thank you for those who can help and choose to.

In fact, the only reason I wanted the license was to remove the typical 6 percent you have to pay when selling a home (but because I am planning on never selling my rentals, unless it seems like the ideal situation, I’m starting to loose interest in obtaining my license).

Most brokers who are posting on linkedin are recruiting for their firm and the "qualifications" are very loose guidelines since you will be working on a commission only basis at most real estate brokerages rather than on a salary they will take most agents that have an interest in joining their firm regardless of "qualifications". 

@Andrew Thomas That's a lot to unpack but I see some red flags in your post after loosely reading it. 

Offer what you can afford, I assume there will be a grace period where you can back-off the deal, except loosing some or all earnest money, etc.  

The term “passive income” is used loosely, as the level of required activity and involvement varies based on the investment type.