@Jeremy Davis These numbers and timelines makes sense to me.  10-15yrs is what I calculate as well for myself, but that's taking into consideration of holding a fulltime job in addition to investing.  

The trigger could be something we have not even talked about yet.  

The other thing to think about is, to satisfy OOC requirements, you're going to have to live there 1-2 years, depending on the mortgage and 2 out of 5 years to satisfy capital gains if that's a consideration.

What gives us more liability and tax relief and what else should we take in consideration?

However, take this with a grain of salt, since I have yet to pull the trigger.

Find a deal you're comfortable with, make sure you've got cash reserves, and pull the trigger.

The second is that if the REIT sells your property and does not do another 1031 Exchange inside of the REIT your tax liabilities will be triggered. 

Because my time is worth money and the time we have spent has been considerable and we have lost time with our children because of this house. 

I have spent a lot of money with other "gurus" but never had the confidence to pull the trigger.

Individual lenders can have differing definitions, too, so better to check with the lender under consideration.