But the prohibition is that you cannot buy from related parties when the intent is to lessen your tax burden. 

We also ask for a 2 year lease when feasible as this cuts down on turnover/lost income. 

You could use term life insurance to offset taxes.  

Is there any way to avoid these taxes?

I'm not sure what you mean by type of income tax basis, but ideally, both my parents and us would have the lowest tax basis possible?

Looking for a tax account that n KC area.Any recommendations? 

So I recently learned that some states don't have any income tax.  

I heard that this can be beneficial for the seller cause it can help them avoid tax obligations.

I just had my annual appt with my tax guy and he advised now is a HORRIBLE time to get into real estate and that I'm better off in stocks.

Based on a quick search, I did not see any governmental agencies addressing this particular question.LA county assessor says the child must make the received property his/her primary residence within 1 year, and must file a valid Home Owners property tax exemption.