But as I understand it (and please correct me if I am wrong), the Section 121 Exclusion would only exempt federal gains taxes, and I would still owe CA taxes on the ~$90K of gains.

If you want a tax deferral, you CANNOT put any of the money from the relinquished property used to buy the upleg in an account you control.Any cash you take out of the transaction, whether before it goes to the QI or if a 1031 fails comes back to you, becomes boot and taxable now for CapGains and depreciation recapture. 

Tried Navy Federal and Investar so far.

Pennsylvania also has an inheritance tax that is distinct from the federal estate tax; federal estate tax can be zero on an estate small in value, but the Pennsylvania inheritance tax is never zero unless there is an exemption (due to family relationships that the PA Department of Revenue gives exemptions to).

Federal Reserve.

Exemptions: Units receiving subsidies from the federal government will be exempt from this ordinance.

@Rohan Anthony Soltau I haven’t been in the agent game for a while but I thought it was federal law that an fha buyer could Not lose their EM if the property didn’t appraise high enough. 

The $250k doesn't count toward your taxable income.

I'm not sure how much background is needed, but here goes:32% marginal tax rate for federal, plus state income taxes (AZ); decent chance of being 35% marginal tax bracket when it's time to move.Property is 3 bedrooms, 2 bathrooms, and just a touch over 1,700 square feet in the Phoenix area.

Sounds like you have a federal and state returns.