In the last few days, I utilized BP contacts and just got a hold of a highly recommended Columbus attorney who I am now consulting with.  

(e.g. property management, mortgage brokering, RE consulting etc.)

Consulting an attorney is probably a good idea.

Consult with your accountant and attorney as well, but I am certain they will both agree.

Find a rockstar PM and a rockstar STR manager/consultant and you are well on your way.

If you know of a CPA or Attorney in CA that would be helpful in the matter I am more than happy to consult with them.Section 121 of the IRS code has examples but does not provide examples where the gain is in excess of $500K, so I am trying to get a clear understanding of how to manage the distribution of the gain.

@Joe Miller That's a good question and best that you consult your title company for exact details.

Be sure to look up consulting firms that specialize in demographic analysis for self storage.

When doing a DFE or delayed financing exception you will be wiring that money back into your business checking account at closing if the business account originally dispersed the funds to purchase the property initially.The above is the financial and accounting end of it and the logistics.However, on the lending end if you need more funds because you're going over budget then you'll need sufficient income, assets/reserves, and credit to qualify for the new mortgage.Depending on how the property is currently titled you may have to QCD (quit claim deed) that property back into your name to close.This of course brings many other issues such as taxes and bookkeeping back into the foreground so consult with your tax pro on the implications of this as it may mistakenly create a taxable event depending on your business entity.Back to the lending end, assuming this is not a portfolio loan, you'll be closing your conventional loan into your personal name or your living trust.The funds will be wired to the entity or account that purchased the property in the first place (back to business acct if original cash purchase was from business acct).Let me know if you have any questions on the above.

Always consult with your attorney before you rely on the above information.