ffmpeg -re -i rtsp://serverip:7070/stream1 -vcodec libx264 -vprofile default -vprofile baseline -r 24 -g 48 -vb 150000 -strict experimental -acodec aac -ab 96000 -ar 48000 -ac 2 -f rtsp -muxdelay 0.1 rtsp://127.0.0.1:1935/live
ffmpeg version 2.3 Copyright (c) 2000-2014 the FFmpeg developers
  built on Jul 20 2014 00:01:46 with gcc 4.6 (Ubuntu/Linaro 4.6.3-1ubuntu5)
  configuration:
  libavutil      52. 92.100 / 52. 92.100
  libavcodec     55. 69.100 / 55. 69.100
  libavformat    55. 48.100 / 55. 48.100
  libavdevice    55. 13.102 / 55. 13.102
  libavfilter     4. 11.100 /  4. 11.100
  libswscale      2.  6.100 /  2.  6.100
  libswresample   0. 19.100 /  0. 19.100
[h264 @ 0x294f000] number of reference frames (0+2) exceeds max (1; probably corrupt input), discarding one
Input #0, rtsp, from 'rtsp://serverip:7070/stream1':
  Metadata:
    title           : Session streamed by RTP/RTSP server
    comment         : ACTi.COM Streaming Media v
  Duration: N/A, start: 0.332667, bitrate: N/A
    Stream #0:0: Video: h264 (High), yuv420p, 1280x720, 7.50 fps, 7.50 tbr, 90k tbn, 15 tbc
Unknown encoder 'libx264'