Best wishes with whatever you decide.  

I tracked the owner down and approached him at his Jewelry store.

Going through my real estate journey I have learned a lot, I am 24, a veteran and a graduate from Temple University,I started with aspirations of investing on a property and making a quick flip.My problem lied with fear of failing, my capital and my savings.I decided I wanted to learn the real estate market and know the ins and outs before I would make a bold choice on buying my first real estate home.

We haven't decided if we want to keep this or sell it.

Cheap homes for an area are cheap for a reason - low to no demand from local investors or owners. 

In your case, transferring the property from a revocable trust to an LLC where you and your wife are the owners should not affect the 1031 exchange, provided the LLC is a disregarded entity for tax purposes . 

Later on, if you decide to open a business account, you can typically switch the account for your loan payments without any issues.

I don't think it can be overstated that you need to speak with rental owners in the specific Housing Authority the properties are in to see how the housing authority operates. 

Fast forward 25 years later and John decided he wanted the riches associated with the gurus backed by the Vegas/Provo real estate marketing companies.

The units are all sold so the owners make up the HOA, but without a board the only person calling meetings right now is the Management company.