Want to sell the cheaper lot but not sure how to figure the taxes. 

Not a real estate professional for tax purposes, but currently have experience with 1 other rental. 

I'd recommend getting a free cost/benefit analysis quote from a cost seg company to determine if the tax benefits would outweigh the costs.

Solutions: expand National Historic Rehabilitation Tax Credits, preservation tax credits, save the historic and as Baltimore likes to call it charming housing.

If so, is there certain steps to take to qualify for the tax advantages?

I'm grateful to have completed another 1031 Exchange.  I look forward to what's next.

My questions are: Are they any implications (tax or otherwise) if after the funds are paid into the business account and my friend writes a check to their personal account from the LLC to get his money out?  

From Wikipedia, Alabama has the second lowest property taxes behind Hawaii.2.

With the high property tax and about 10k of work needed on the home.

So I am looking at a house that is in a run down condition and did a tax look up.