But there is a way around this problem.The first step is to get your financing in your personal name then use a land trust to execute any transfers into your LLC or Series LLC asset-holding company.

If you find that current listings have nicer amenities, then factor the cost of freshening your property for sale.Don't forget to account for applicable transaction costs, like Realtor commission, depreciation recapture, transfer taxes on all legs of your transaction (NC sale, CA buy & sell).

But there is a way around this problem.The first step is to get your financing in your personal name then use a land trust to execute any transfers into your LLC or Series LLC asset-holding company.

            (8) ... a transfer into an inter vivos trust in which the borrower is and remains a beneficiary and which does not relate to a transfer of rights of occupancy in the property...The land trust is an estate planning tool (inter vivos trust) and is an exempted transfer, as long as you are not transferring it into someone else's trust.

You can also set up a self-directed IRA, transfer your funds from your current IRA tax-free and buy a rental inside of your self-directed IRA.

I would then assume the 47k loan and we would transfer the title/deed over to me (my business).

If I were to find another like kind property that we both wanted to buy together (Property B), could we form 2 partnerships, the first partnership buying Property A from my partner, and via 1031 exchange he transfer his Property A gains into his share of our partnership in Property B?

Seems like there was an error somewhere in a past transfer.  

In either case, you should verify that you are eligible to transfer the funds from your existing retirement account (e.g. if the funds are in your current employer 401k, you will likely not be able to transfer until you quit your job).  

Should I transfer this home in to my name initially or should I just create an LLC out of the gate and transfer title directly to LLC?