If you are holding less than a year you would get hit with short term gains.If you hold for a years time you would get hit with long term capital gains.If you defer the gains with a 1031 after holding a year and selling to the city then you will not pay anything if done correctly.While there is no rule on 1031's case law and 1031 companies site 1 year as being safe to do a 1031.Anything less than that and the IRS has been challenging you are holding for resale purposes and not investment purposes.Simply have the city purchase after your 1st year of ownership is up if you want to avoid the gains taxes and do a 1031.

I am not considering the appreciation aspect of the equation yet, just to understand if the 2% rule better in my scenario.But for me to understand, what is the exit strategy for a Multi-family unit?

They are not going to buy investment real estate alone because they don't know how to find good deals like I do, and they're scared of many aspects of managing the asset, but I'm not.I believe this is a very powerful approach, and yes there are some kinks to work out, but it can be tackled.

Transactional funds (or the cuts into my profit) are something I wanted to avoid.

They're now 5 mortgage payments behind; I've made one insurance payment and will have to make another on Sept 24 to avoid a lapse.I don't want to be unreasonably demanding of the attorney, as I really like him as a person.

Ask you banker what they are looking for, not only does tha show you value thier opinion but they will tell you what they want.There are also business organizations that provide assistance, the small business administration provides assistance and the Chamber of Commerce can point you to those that provide assistance.Keep it simple, don't over justify aspects that are generally accepted, like maintenance expenses.

My name is in the chain of title on a lot of properties but if it doesn't have to be, I avoid it.

I would avoid making up a ridiculous duty title like I have seen some people do to come off as more impressive and stick with the basics.

Albert - Here's the response from our rep at SmartMove:TransUnion SmartMove was designed as a consumer initiated website to help landlords avoid having to pay membership fees and go through stringent compliance to obtain a potential renter’s credit and criminal information.

Tenants are on limited housing budgets (usually), so they don't want to spend extra if they can avoid it.