If the new property isn't owned by the llc then you will not want to put the income in the bank account nor pay expenses from it. 

This was a great answer by @Lateefah MathewsIf your seller has a Profit&Loss from the prior year, that may be helpful but not necessary.Welcome to the forums @Shell Peterson !

You can sometimes find one at low 2 million in good area but get gobbled up by cash buyers at 5.5 cap rates using no debt.

There are specific rules for 1031 exchanges including:The replacement property must be identified within 45 days of transferring the relinquished property.The replacement property must be received within 180 days after the transfer of the relinquished property or the due date of the taxpayer's tax return, whichever is earlier.Special rules apply for exchanges between related parties (defined in § 267(b) or 707(b)(1)).Real property located in the United States and real property located outside the United States are not considered property of like kind.Cost Segregation StudiesA Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.

Our cost is affected by topography of the lot and we're building a small one bedroom. 

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

He's purchased a condo in 20214 and by 2020 it had roughly $200k in equity.

Many of us started out using this strategy, and have continued to implement it with numerous nuances: House Hacking with an STR in your basement, renting by room in a SFH, and most traditionally in a small multifamily property where you take one unit to yourself.

You achieve full control and maximum profit by investing locally and self managing your properties.  

Didn't they already fail the criminal background check just by being an illegal immigrant?