Forced appreciation, appreciation, tax savings, principal paydown and (the most valuable in my opinion) experience. 

Was looking for some better ideas for tax planning, and saw this one, but then wondering now how much money I need bring to table.I also have another house I could sell, and maybe 1031 exchange with like 300k equity in it, so not sure if that would help.

this is due to historically outstanding rent growth, overall far better tenant than most other markets due to the housing shortage (San Diego ranks near bottom in nation in both delinquent rent and evictions), and property taxes being near fixed rate.  

Also, would their credit score matter in that case?

Norm,What you want to do is look online for your county tax assessor site.

Take a line of credit on my primary home and buy a property outright?

Assuming he/she does not sell the property at the end of 10 years, at that point will taxes be owed on the property's appraised value?

Is there anyone on here in the Brevard, Orange, or Volusia county area that has gone through the tax deed auction process?

They will be removed from your credit and you start all over again from property one.

Thanks to the Cost Segregation Study, the property investors were able to reclassify the property components and accelerate their depreciation for a total of $356,000 in the first year.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.