Your requirements to defer all tax are to purchase at least as much as your net sale. 

Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.

My CPA isn't well versed in 1031 exchanges and I want to know the effect of transferring title back to our names from a tax perspective. 

I have written about it before in long past. 2) Yes, no PM and no tenant placement fee consideration.

@Iris Olivas Most local banks/credit unions can do this deal with lower fees and potentially rates than brokers.

I charged fees for other violations as well but the fees aren't enforceable here in Wisconsin because the lease did not explicitly state what they would be in advance.

Here’s the situation:Purchase Price: $540,000Down Payment: 20%Mortgage Rate: 7.125% (30-year fixed)Monthly Expenses (Mortgage, HOA, Taxes, Insurance): $3,706Realistic Max Rent: $3,000As you can see, I’m currently short $706/month even with max rent.

Zero capital gain tax, next to zero income tax, property Tax is super small.  

Not necessarily a scam, maybe someone trying to save fees. 

Do you have a current need for that cash flow generated from the tax savings?