The market has since seen its worst drop in value since the last recession only 12 years ago.Not to mention, the additional 0.5% on refinance government mortgages mandated by the Federal Housing Finance Agency (FHFA) on all Fannie and Freddie Mortgages will raise the costs for average income families in these crazy pandemic times.How do you see the many jobs losses, raised borrowing costs, non paying tenants leading to unpaid rents and higher vacancy rates turning the difficult market condition into a new wave of Real Estate opportunities?

That is a conversation to have with your CPA and attorney.You don't necessarily need to change CPAs, but you should make sure yours is comfortable with reporting the 1031 at the federal level, reporting the 1031 to CA in the year of exchange and thereafter, Sec 1446 withholding, FDAP/ECI considerations, and filing your 1040NRs and any applicable individual state returns.

Starker family created the 1031 it used to be called a Starker exchange this was used for when timber owners were exchanging land and did not want to pay tax.. if you look at the big landholding maps of the west you will see in the forest lands ownership is checkerboarded  IE  one section federal One private.. so there is a constant movement of these companies trying to square up ownership blocks.. this simply does not happen East of the Rockies were there is not nearly the amount of timber land or public timber land or BLM  etc.. its mainly private.. 

So while you'll still defer federal tax and depreciation recapture. 

If you have an FHA loan or VA loan or other Fannie Mae / Freddie Mac federally backed mortgage, then you may have trouble evicting per the CARES Act.  

California’s economic recovery will depend on whether the federal government can enact more stimulus measures, including unemployment benefits, and on curbing the COVID-19 infection rate.

"Buying" the property from the LLC is a federally taxable transaction and may result in transfer taxes being assessed by your county/local government. 

C creates a taxable event and I'd owe cap gains right away.   

If you sold your personal residence, you can avoid up-to $250,000 / $500,000 of gain.Assuming 15% federal gains tax and 3% PA state tax you would save close to $8,000 in taxes by going this route.

Just watch the Federal Reserve.