It depends on how much asset protection you're looking to gain and if you are taking the deal down with financing.

The tax benefits from doing this should help reduce or even eliminate capital gains and depreciation recapture upon sale, but again you need competent advisors to set everything up to get the optimal benefits from this strategy. 

As written it is mostly painless for the majority of people, unless those people own parking lots, in which case they are about to realize some capital gains!

I also attended a 2hr seminar of Than's (of course he was not there) and there is information to be gained. 

The house is headed for foreclosure (and auction) and my thinking is that I can get ahead of this and bring the mortgages current contingent on a purchase contract signed by him if he gains executorship.

He only owes $87k, and I was going to bring the seller financing option to his attention but before I did that, I was going to ask him to check his loan docs for a Due On Sale Clause, which would mean he would have to completely pay off the mortgage first and then do seller financing.  

Hi everyone, In a little over a month I'll gain access to a bunch of capital, and plan to buy a 2-4 unit multifamily rental in Jacksonville, FL.

I'm still in the process of educating myself about the basics, but I hope to eventually use my skills and knowledge as a builder to gain "sweat equity" in my future investments.  

He'd like to sell in the Spring and is asking about a 1031.I think since it is inherited, the cost basis is reset to today's value, and he can sell and pay no cap gains taxes, which is better than 1031.

If you want to wait until early Spring you can gain some equity in the meantime as the market is still appreciating rapidly.Best of luck with you sale either way.