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Being single, she is eligible to exclude up to $250k of capital gain on her primary residence as mentioned.1031 exchanges are only available for investment properties. 

I suppose I can take the money out and put into a bank account and then submit it, but that would be a lot more work4.

The other factor is that money for how long they have been a tenant needs to be in an interest bearing account so you will have to account for that...

An accountant can explain this in better detail

I have not used Stessa, but it maybe cheeper for you to just have your accountant do the book keeping for you.

Hi Salvatore,If you don't transfer the title and the mortgage to the LLC and do all the paperwork to show your LLC instead of your name, then you are still liable for any issue that happens to your tenant if they want to sue you.Mortgage companies in general allow to transfer to an LLC after one or two years.As Bill's mentioned, don't commingle funds is key as well, as soon as an LLC is open you have to open an LLC business account and everything towards the LLC goes there.

My primary house became my 1st rental and thankfully is a great, cash flowing single family 3/2.But now I'm stuck!

Hey, my wife and I own a variety of properties… warehouses, single family homes, self storage, commercial buildings, multifamily etc.My son is turning 18 in December.

It has nothing to do with how much you make rather what the repairs are.Ask your accountant to show you where this is written on the IRS website.