Proceeds went to my Qualified Intermediary for the 1031 exchange that I am doing (my first 1031), where these proceeds will be the down payment of the off-market 8-plex that I will close on in July 2021.

They say that their tax professional tells them they could "defend it and win in court".

And this would satisfy at least one tax court ruling out there.Just be able to look yourself in the mirror and have a good rationale for "changing your intent". 

But I would involve Sec. 8, courts and the community to help you on this one.  

My wife and I are just getting started. We want to purchase our first Rental/investment property. However because the properties are so high we find ourselves wondering if we should wait for the market to change befor...

For example: if a parent wants to gift the post capital gains proceeds from a family cabin to 2 children ...Short of death, does the gift tax exclusion apply here ?

They may have some suggestions for you on how to proceed against the turnkey provider. 

Hi Mike- We are planning to sell one of our rentals and flip the proceeds into 5 or so syndications.

Your landlord may begin the process of eviction which would be handled through the court. 

I have no official real estate experience and am not sure how to really proceed from here.