While a single-member LLC usually supports a 1031 exchange, it's super important to talk to a tax advisor for personal advice on meeting all the rules and handling any possible tax impacts.

One of my considerations is to further improve the value by taking a renovation loan, however I'm concerned because of the neighborhood values that investing more money into the home won't net me much profit whether I sell or rent.I feel a little stuck here and I don't want to fall to my limited knowledge, so I'm here reaching out for some guidance.Thank you in advance for any advice or support. 

Quote from @Danielle Cage: I would not change my advice.

@Maria MoyaI’m not gonna provide any advice.

Perfect advice @Taz Zettergren, thank you so much.

Alot of the other advice has merit but there are way to take care of all those things remotely if you put the systems in place.Hope that helps.

You will need to know all the minute facts about real estate transactions to avoid litigation.Buyers or sellers may rely on your advice and guidance, but there is a potential for lawsuits if you make an error or omission like delaying or canceling a sale or failure to disclose a material fact.

I am looking for advice on the best way to keep a property in Montclair NJ.

@Matthew Shedd -In order to provide good advice, it'd be helpful to know quite a bit more about your financial situation, BUT, here is an alternative idea that we recently worked through with an investor.

Looking forward to not only continuing to network with you but also gain results from your advice!