LLC might be possible, but I'm understanding this is a bit complicated and could affect the 1031.

We did find a fixer upper of interest...money pit in ways.1031 exchange is apparently much more complicated if your are looking to roll in construction costs for updates on target property....appears discouraged AND would take more time to plan and execute.RECAPOne of the plans is to take an investment property or two and do a 1031 exchange into a singe family home that we would rent out for a while and then eventually move into as primary residence. 

I do not want yearlong leases or other complicated terms right now, which no doubt the voucher people will demand.

And the rules in that area are complicated.

Specs:3 fam 7 bed 3 bath listing for $525kComp rents in neighborhood : Apt 1: $1350/mApt 2: $1350/mApt 3: $1400/mTotal: $4100I have access to a hard money loan potentially in the 8-9% range I have 100k in liquid assets40k invested in another real estate endeavor receiving 12% My new w-2 gig is hourly at roughly $25/hrThe conservative side of me thinks it may be an aggressive plan that is taking on unnecessary interest payments (at least 40k/year)The advantageous side, however, can't look past a what a hidden gem of asset this could be.

I'm thinking of buying a property at a foreclosure auction with a complicated title history- there are 27 mortgage and release records alone for the one owner in the last 30 years.

That would just complicate everyone's lives unnecessarily.  

@Richard HadleyWithout getting complicated, buy low, sell high.

Thankfully no, but it's more complicated. 

But there are complications.