Also, how does the my capital gains exemption work if I keep the subdivided part of the lot?

Brett you might not have to get licensed at all.There are exemptions that vary by state where if you work as an employee for a company or corp.as a property manager then you do not have to be licensed.It depends on the specific situation you are trying to set up.

The following change is exempt from the maximum number of financed properties.

Keep in mind, the taxes are based upon the homeowners exemption.

I'm not sure what the purpose would be for a 1031 exchange on your personal residence unless your capital gains exceed the homeowner's tax exemption limits of $250k for a single person and $500k for a married couple.If not, forget deferring the taxes and simply avoid them.

You aren't going to like this answer.The transfer of real estate from an individual to his/her wholly owned LLC is not exempt from transfer and recordation taxes in DC.

Successful completion of a 1031 exchange exempts the foreign investor from the FIRPTA withholding. 

This unit is most likely exempt!

If you are offered a passive investment opportunity, however, you should be aware that the person seeking your funds must follow securities laws and should have proper documentation explaining the securities exemption they are following. they don't, think twice about investing with them.

If that property was at one time your primary residence and you can still document that you have lived in it for 2 out of the 5 years prior to sale then you qualify for the 121 exemption as well.Jason, this is a little known application of the code.