Having foreign investors for a fund is not fun - accounting / admin nightmare.

@Lisa Lucero, what you are referring to is what we call a diversification exchange, when you sell one investment property and 1031 exchange into multiple smaller investment properties.

In a 1031 exchange, would I be able to apportion the entire amount of the proceeds toward the investment (rental) unit so that I can qualify for a full exchange and effectively defer 100% of the gain?

Quote from @Keith Meyer: Hi All,I'm looking to see if anyone knows of a calculator/modeling tool which can help me compare the benefits of selling a property with these four options:Sell and pay capital gains/depreciation recapture upfrontPerform 1031 exchange into new property, defer taxesSell on Seller Carryback Installment Sale, defer taxesSell on Monetized Installment Sale, defer taxesSurprisingly I couldn't find anything online which was very helpful.

@Nate Edwards, It's called exactly what you termed - a consolidation exchange. 

If you and your spouse are doing a 1031 exchange and plan to move the property into an LLC, it can still qualify as long as the ownership stays the same before and after the exchange.

Exchange fees have changed quite a bit over the least couple of years. 

I’m considering a 1031 exchange and would like feedback from investors who have experience with mobile home parks, particularly smaller, park-owned operations.Current Property (Selling):Duplex purchased in 2021 for approximately $145,000; estimated current value around $210,000\Loan balance: about $90,000Gross rent: $2,400 per monthNOI: approximately $16,000–$18,000 annuallyCash flow after mortgage: around $750–800 per monthLow management requirements and stable tenantsReplacement Property (Under Consideration):Seven-unit mobile home parkAsking price: $395,000Rent: $750 per unit plus $40 for water (total $5,530 per month; $66,360 annually)100% occupied with long-term tenants, several in place four to five yearsAll homes are park-owned, purchased between 2016–2018 with metal roofs and Hardie sidingOwner pays water and sewer (aerobic septic); tenants pay electric and trashMaintenance handled by one individual for $400 per month using personal equipmentGravel road, well maintained; potential to add one or two additional homesMy Pro Forma:Vacancy: 5%Expenses: approximately 40% of effective gross income (includes water, insurance, taxes, maintenance, mowing, etc.)Estimated NOI: $37,800Financing assumption: $255,000 loan at 8% interest, 25-year termAnnual debt service: approximately $23,574Projected cash flow: about $14,250 annually ($1,188 per month)Cap rate: approximately 9.6%Cash-on-cash return: around 10% on $140,000 downDSCR: 1.6 (strong coverage)If the price can be negotiated to the $360,000–$370,000 range, the cash-on-cash return improves to roughly 11–12%.Pros:Consistent, well-maintained units with matching exteriors.

I’ve actually had clients come to me after trying to report their 1031 exchange using TurboTax, and I’ve noticed they often miss key details or enter things incorrectly.

(and it has our living trust as a member)I registered the Ohio LLC in California as foreign entity because, evidently, I'm doing business in CA.