@Bradley De comarmond Thank you for your comment.

But to call it tax evasion is false and reckless and exposes a lack of understanding of the specific statutes and subsequent decades of case law in sec 1031, Rev procedure 2000-37 (the safe harbor reverse exchange), rev procedure 2002-22 (Tenants in Common syndications), Rev procedure 2004-33 and 86 (Delaware statutory trust), and all of the various regulatory guidances we have for using 1031 exchanges in conjunction with personal property, vacation property, primary residences, retirement, and estate planning etc.The 1031 has for many decades been the  method of deferring tax on the sale of investment real estate. 

Purchase price: $180,100 Cash invested: $35,000 Sale price: $235,000 3,610 sq. ft.2-story colonial style5 bedrooms2 full, 2 half bathsThis spacious, move-in ready 2 story is located in a family-friendly neighborhood, on a quiet cul-de-sac, close to Kennedy High School, Transamerica, shopping, downtown, and Interstate 380.

People don’t usually believe the direct verbal nearly as much as the passively written.Place a flyer in a cheap stand on the kitchen countert explaining that you are aware of the current economic times and you are willing to accept A, B, C as long as D, E are covered.And if other landlords in your area are not using the same approach it makes you look great.

@Ruud Van de BeetenHi Ruud,Thank you very much for the info, I will definitely check it out.

@Wendell De Guzman What if in stead of selling the property, my exit strategy was to refinance.  

I have been doing some research on the Delaware Series LLC.

They, however, did say an option could be to come up with a plan for a system that would dispose of sewage water to another area of suitable soil or off-site to an additional property.It's 2 lots, with one being a corner lot, in a subdivision, on a street with a cul de sac.

I would also suggest to purchase a couple properties yourself before you start investing other people's money.Also, here are my favorite books:Multifamily Millions by Dave LindahlThe ABCs of Real Estate Investing by Ken McElroyThe Complete Guide to Buying and Selling Apartment Buildings by Steve BergesCommercial Real Estate Investing by Dolf De RoosTrump: The Best Real Estate Advice I Ever Received by Donald TrumpTax Free Wealth by Tom WheelwrightCommercial Real Estate 101: How Small Investors Can Get Started and Make It Big by David LindahlRaising Private Capital: Building Your Real Estate Empire Using Other People’s Money by Matt FairclothThe Definitive Guide to Apartment Marketing by Josh GrilloInvesting in Apartment Building by Matthew MartinezCrushing It in Apartments and Commercial Real Estate by Brian H MurrayThe 7 Secrets to Successful Apartment Leasing by Eric Cumley2 Years to a Million in Real Estate by Matthew MartinezBurn Zones: Playing Life’s Bad Hands by Jorge NewberyCommercial Mortgages 101: Everything You Need to Know to Create a Winning Loan Request by Michael ReinhardIt’s a Whole New Business!

Treat your partnership as a formal company, do the due process, have stuff in writing... don't make the decitions and stuff personal, is a business transaction in which the common goal is an entity of itself separated from you as individuals....Partnerships are good, they bring synergies and potentiate your growth, but be thorough, crystal clear and put EVERYTHING in writing, words (opinions, verbal compromises, intentions... etc.) are worthless when S** hits de fan