If you are a long term hold and do 1031's having him as a partner means he can't use the stepped up basis when you die thus he would carry the burden of deferred taxes vs you removing it with death.

Vacancy and maintenance factors should be higher than for Class A as homes will be older, have more deferred maintenance and tenants will be harder on them.10) Class C can be relatively successful with a great PMC (do NOT hire the cheapest!)

How likely is the 16 cap to perform without side effects -- what was the vacancy, is there any deferred maintenance or is it fully stabilized and sustainably year after year a 16 cap?

On the topic of taxes - an installment sale (IRS term for seller-financing) can defer and possibly reduce capital gains taxes when selling a property.

You’ll pay that, plus whatever was deferred from the 1031, attributable to that property.

You may be precluded from deferring gain on sale under §1031 if the structure is an LLC. 

You will need to be purchasing at least as much investment real estate as you sold to defer all tax.But your mom will not have any reinvestment requirements. 

I think there are three distinct pieces here that you allude to...A 1031 serves to defer capital gains, so if you complete a 1031 you will defer the tax.

I have cash sitting in a tax deferred IRA account.  

I'm located in California, in a college town, and this house is being rented far below market because of deferred maintenance.