They had about 90k into the property.

Now days you don't buy a deal you make the deal either with how you operate the property, how you finance the property, or how you purchase the property.

We bought a property that we feel is assessed by the our local government too high.

You really don't need that LLC until you pay off the property and it's questionable if you need it then as long as you maintain your property and have correct insurance.Yes to wind insurance, not sure about hurricane.I use Foremost STR policy for one property.I am about to switch to USAA (retired Navy) for another because they quoted a policy that was 3k lower than what we have.

I run Blaze Real Estate a property management company in Amarillo.

Property management is a "nickle" and "dime" business.  

As a sole operator, you have all the policies and procedures in your head and can apply them to many properties without referring to a binder.

I would like to 1031 exchange these properties into investment properties in South Carolina.

They develop, they build, they finance, they property manage, they will have HAO, cleaning crew etc. etc. etc. so the subsidiary companies make money every step of the way.From investor perspective: The investor pay $15 K to reserve the right to purchase 25 multiplex over the year of next 5 years. 5 each year.

They had about 90k into the property.