When set up this way the members of the LLC or LP cannot do their own exchange because they do not own real estate. 

I assume it's because he doesn't want me to see what number he agreed to with the owner but I also believe that without a purchase price the contract he sent me is not valid which makes the assignment void and therefore doesn't give me any right to buy the property.In my understanding a contract has to clearly state what's being exchanged or traded for what. 

My fiancé and I live in NYC and know we do not want to raise kids here. We have 2-3 places elsewhere in the country we want to raise kids where we also have trusted friends/family who are renters. Idea is this:

We ...

You're doing your first like it was your 100th exchange! 

Many of our clients on this side of the business (the side I manage is helping non-accredited clients invest in direct real estate), are clients who have sold their direct real estate holdings and are doing a 1031-exchange into a DST (type of syndication that is 1031-exchangeable). 

Jon,I normally try to lock in good tenants as long as possible, and in exchange for an extended term (2 years+), offer them to lock in their rent for that period.

Would love to chat and exchange info more if you're interested

We have a lot of plans with what we will do with the profit (we are rolling the 30k profit into two more financed rentals via 1031 exchange).

The use of single-member LLC to hold title to individual real estate assets (as opposed to multiple properties being titled in the name of one entity or individual) is used to limit liability risk, creating “bankruptcy-remote” special purpose entity standards, and also to facilitate tax-deferred, like-kind exchanges under Section 1031 of the Internal Revenue Code.

2) Transfering assets to an LLC with no money exchanging hands (or even looking like it exchanges hands) is one (of several factors) that may weaken the protections offered by an LLC.