However, the current LLC (partnership) could set-up a new subsidiary LLC that is 100% owned by the current LLC (partnership) and acquire the new replacement property under the new LLC. 

After doing a little digging I found out that crepd llc owns the property which is a subsidiary of First Merit bank.

The LLC would be required to be a wholly owned subsidiary of the C-corp.

Subsidiaries and affiliates appear to be independent, they can generate expenses for tax advantages, hold and bid on licenses and sub-let space.

IPX is one of the largest 1031 Exchange Accommodators and is a subsidiary of Fidelity National Title.  

There is a way to set up your structure in a manner that will work for you.I like the parent LLC with subsidiaries for the properties underneath it.

Sis in law is a manager at Google and being as they run the world aren't worried too much but there is talk about subsidiaries and the not-so-entrenched are contracting big time. 

You would recognize one of their subsidiaries from TV/radio nationally. 

Both loans were assigned in 2009 to Residential Funding (an apparent subsidiary of GMAC).The HELOC assignment ends with Residential Funding LLC, but the conventional mortgage goes through 2 other assignments. 

Read the terms of your sale " Neither Auctioneer, the Trustee, beneficiary or servicer (including their parent, subsidiary or affiliated entities) nor any of their respective directors, members, manager, employees, agents or representatives (collectively, the “Parties”), make any representations or warranties as to the accuracy or completeness of any information provided, including but not limited to, the condition of the Property, the condition of title or descriptions of the Property.  Any documents and/or pictures posted on www.auction.com (the “website”) "The sale is final and no warranties are made