Child would like to buy the house, potentially for below market value, retain the original real estate tax basis and then parents would like to use the proceeds from sale to complete a 1031 in order to defer capital gains.I can see a few potential issues:Does the fact that parents converted it to a rental from primary residence cause a problemIs a purchase below FMV possible or are there 1031 ramificationsIf below FMV a bad idea, could some sort of non-interest bearing note be structured between the parties to make up gap between proceeds and FMVCan 1031 exchange property they identify be contributed into an LLC after closing for asset protectionAny advice on the structure outlined above, or other ways to transfer real estate from parent to child (while parents still living) would be greatly appreciated.

In today's legal world, it's always beneficial to have some type of legal documentation if things don't go as planned which happens quiet often.

Is this legal to do in the state of Louisiana.

If you seek a mortgage loan for an investment property is it violating loan terms to quick claim the house into your LLC while the loan is still tied to you personally?

Foreign investment, and in part AirBnB, has contributed.As you can imagine, the socialist party is driving the bus on this.

If you lease a system, the 3rd party owner (leasing company) gets the tax credit.

If you lease a system, the 3rd party owner (leasing company) gets the tax credit. 

I do have one thing that my "cautious mind" keeps wanting to clear out.I'm looking for a contract I can use that's legal that will allow me to send to agents, or a FSBO that keeps me safe in a wholesale deal and allows me to transfer it to someone else.

Meanwhile The Donner Party REALTORS continue to give and give... and will end up with crumbs.Nobody goes hungry behind the lender curtain.

Governments rightly look to private sector to provide and manage housing supply, bringing tax incentives for both parties.