You can put the property in a trust, which is advisable for many reasons besides taxes - I don't believe it has any effect on the tax expenses when you transfer title to an individual.
You can sell and reinvest the property without paying taxes on the gain if do so within 45 days - its called a 1031 exchange, which is the name of the tax code allowing it.
You will have a tax obligation is you sell with a capital gain and don't purchase another property, regardless of where the money goes. But if you hold the property and simply refnance with cash out, or take out a home equity line of credit, you don't hae to pay taxes on the money and you can take it wherever you like.
Please be advised that the questions you are asking are best answered by an attorney who deals with trusts on a regular basis, and an experienced CPA who knows Massachusetts tax code. A realtor can give you some general advice but you really need to consult a lawyer and a tax specialist before you go ahead with purchasing. You should be able to do that without a large expense. Good luck!
2. Yes. Many loans don't allow "assignments" but a property held in a trust fund doesn't change ownership when you add or delete members of the trust fund. I would confirm with a real estate attorney.
3. Tax rates are subject to individual cases. You have 2 years to invest again to avoid the taxes. Better yet, do a 1031 Exchange. You should consult a CPA to confirm.
4. Again, this is a CPA issue.
I hope that helps.
Green Home Realty