One option many investors will use is transferring the property into a land trust and assigning the LLC as the beneficiary.

I just know the number with none of the supporting data.

In either case, you should verify that you are eligible to transfer the funds from your existing retirement account (e.g. if the funds are in your current employer 401k, you will likely not be able to transfer until you quit your job). 

MSB is not this report, it's just the acronym of a former company that used to be one of the databases for cost replacement data. 

I don't think you have to as usually a better property performs better according to many data points. 

If not redeemed in 7 months he has a 3 month extension with price increase of 1% per month , AND the transfer of a small amount of equity to us in his development projects, which include a profitable 280 space RV park and a 60 unit new Marriot Motel.Should he not redeem, we end up with ownership of the two tracts with appraised value of $7.4 million.I’ll let you know how it goes.

Land Transfer Tax eats you alive upfront especially in 416.. 

It will go through a title company, transfer, and you will hold deed, get title insurance from seller, etc., - all like a normal transaction.

I link the above image with the caution, there's risks to using data at such a high level.

If that LLC is single member/single asset then transferring the membership of the LLC is considered to be the same bundle of rights as selling the property itself and you can indeed to a 1031 although you are not exactly selling the real estate.