If you choose to use this technique these are some of the Pitfalls to watch out for.Subject To Pitfalls1.

Good on them not complicating things unnecessarily for you👍

Once you get more complicated tax returns, things are a bit harder to calculate... 

But when it involves a 1031, it’s those extra layers (5-year hold + depreciation recapture) that complicate things.If it were me:On the “forever home” plan: hold it at least 2 years as a rental, then live in it 2+ years, and don’t plan on selling until at least the 5-year mark.On the older 1031: check your acquisition date.

I wouldn't advise it for the reasons so stated above, along with a few unstated complications. 

One technique we have used is to contact employers, particularly ones that have a housing office and list our rentals with them. 

There are ways to address this for purposes of your buyer getting title insurance that are significantly less complicated than doing a quiet title action.

You could transfer title to the LLC but if there’s a loan on the property this may be a little more complicated and potentially costly. 

That is not the way to learn a techniques like this.

My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.