It does not have to be the same entity of LLC, but it does have to be the same "taxpayer." 

(Technical note: Federal tax liens attach under IRC 6321 to "all property and rights to property" of the taxpayer.

He had a female CPA on who talked about the benefits of an STR Loophole for those of us who have W2 income as a way to take deductions that are normally not permissable when the tax payer makes a certain amount of income. 

A cost segregation study can be a valuable tax strategy when the taxpayer is in a high tax bracket, actively engaged in the real estate business, or qualifies as a real estate professional under IRS rules.

@Johnery Laurimore, The most important factor is that the title holder or (taxpayer) that is selling your relinquished property must be the same for the replacement property.

You should have some good economic reason for converting it.There is no court case or regulations specifically prohibiting this, nor telling taxpayers they can do this, from my experience, but again, you asking this question and it feeling a little "too good to be true" is usually a sign the IRS may scrutinize something like this, especially if done repeatedly. 

One of the requirements of the 1031 exchange is that the title holder, or as I like to say, the (taxpayer) for the old property, has to be the same for the replacement property.

They know cost segregation and will prepare a very complete, comprehensive, well documented study regardless of whether the taxpayer can use the deductions or not.Let me know if you would like some recommendations and I can forward you some contacts.Joe

However, upon the sale of the property, the previously claimed depreciation reduces the adjusted basis, resulting in depreciation recapture that may increase the taxpayer’s taxable gain.

I cannot subsequently purchase a property in DC and write-off or capitalize my Raleigh, NC exploration costs.Dang, there goes my taxpayer subsidized "explore America" plan!