LLC questions with a California LLC doing 1031 Exchange

[Harris L.]

Hi guys, I have a question. I have complicated transaction and setup.

My business partner and myself bought an office condo 12 years ago under a California LLC and we sold it last month. Very straight forward. We then use the proceeds to 1031 exchange to several properties with a turnkey provider in other states outside of California. 3 states to be exact.

I have a few questions (my CPA is on vacation that's why I'm asking here, I'll confirm with him after he is back)

1. Can you retitle the properties anytime after close of escrow to another LLC that's not a child entity of your California LLC? Any problems with this setup? will it nullify the 1031 exchange in IRS' eyes and how about California Franchise Tax Board? When nullified it will trigger a tax event.

2. If you have a reputable property management company, would you still need to retitle your properties to their own LLC in the state where the properties are located? What are the ramifications, if you didn't do this? I'm basically saying if we didn't retitle, we'll have a California LLC owing properties in other states.

I'm exploring options to see validity, advantages and disadvantages.

thanks guys!