Just make sure you do all your calculations correctly before deciding if this type of move actually will make sense for you.  

In that sense, I'm effectively "borrowing" earning power from my retirement account to make cash flow today. 

@Lauryn Meadows   Congratulations the deal looks good,  I would do one by one, starting with the new ones, numbers need to make sense for you,  but keep in mind that you may get more rent for one unit but how much do you have to invest in order to rent it again.

(Please let me know if this makes sense or not, I’ll try to make it more clear if needed)2.)

Her initial plan was to sell the farm, retire, and fold the LLC.However, I've convinced her to do a 1031 exchange and reinvest the profits into another property, out of state.A friend and myself are doing all of the leg work for this deal and are planning on putting in some cash of our own.We are in need of a CPA, Lawyer, and a 1031 Intermediary that can help us do the 1031 exchange, as well as advise us on how to properly split up the equity of the property we're going to buy.Additionally, if it makes sense for our goals, she is open to giving us equity in the LLC, as well.Thanks,Spencer

@Omar Khan I've dug some more into IRR and its starting to make more sense, I'll be fussing around with excel to make sure I have my head wrapped around it over the next couple evenings.

Does this make sense as a strategy to others? 

It's tough to get quality property management that actually cares for deals smaller than that and for it to make sense from a cash flow perspective. 

@Matthew Paul:  This makes perfect sense to me and wish i would have thought of this before. 

Hope this makes sense and can get some answered as to where or just how to go about finding that information for my area.