I plan on reinvesting the profits into another new construction, so I'm wondering if I can do a 1031 to avoid paying the capital gains tax.  

Pays for my prime resident taxes, and living expenses.

Account ClosedDoing a FSBO is a catch-22 issue, and your follow up question just proves it.When doing a FSBO, YOU are now the agent. 

Also 4th quarter of last year Packwood and county officially did discuss potentially regulating STR's by either limiting numbers or adding a tax to cover increases in local services that are needed.

Is the other heir willing to receive their 50% after selling costs (commissions/title/tax/etc)?

I'm not a tax professional nor do I play one on TV or did I sleep in a Holiday inn Express.

I graduated with a Masters in Accounting a year ago but, the more I research I do on real estate the more interested I become.I was going to pursue my CPA, however, i’ve been considering a Real Estate License. 

In hindsight it seems clear that you should not have paid 75% upfront.Based on your description of where you are right now, I think that you should take the following into account as you go forward.A “good” attorney will most certainly cost good money.

However now that my closing date was officially around the corner the underwriter began doing their thing and came back with a past tax bill that needed to be paid before closing and that was it.

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