I was thinking about perhaps converting one of my rentals into an Airbnb.com spot.But before I do anything stupid or out of the ordinary I wanted to do a little research and find out if anyone else has done this and what are their results?

This is where things get a bit vague and subject to interpretation, and why we urge caution when considering such transactions.Benefit would include things such as one party being enabled to participate in a transaction that under ordinary arms-length scenarios would be out of reach.

Contrary to what many people beleive, a 1031 exchange does not eliminate your tax liability, it allows you to defer the tax payment so that you can continue to grow your portfolio/business.

., Any tax paying entity can perform a 1031 exchange.  

here is a blog I had posted on this subject:The Mortgage Debt Relief Act of 2007 allows qualified taxpayers to exclude income from the discharge of debt on their principal residence.

Make sure tax payer for the old property is the same as tax payer for the new property - ??

Private  lenders, are non-professional lenders ( your uncle, colleague, uncle money bags down the street)   They're just ordinary  people who want in on the real estate action but don't have the time to find and manage deals.

Very productive, all working, schooled, no jail time, good tax paying citizens.  

If it does not file it's own taxes but all activity of the LLC is reported on your personal return then for IRS purposes you and the LLC are the same taxpaying entity regardless of who is on the deed.  

There are also cases where the holding period has been years, but the 1031 Exchanges were disqualified because the taxpayer's true intent was to hold for sale and not for rental/investment.