Selling at FMV avoids the gift tax but provides your child with a higher tax basis, reducing their future capital gains liability.A better strategy for selling below FMV is to sell the house at FMV on an installment note, then forgive interest and principal annually up to the gift tax exclusion amount.

I don't know the rules in the US, but in Canada, you can do that every 2 years and when you sell, you don't pay taxes on the capital gains.

@Andrew Slezak Opportunity Zone (OZ) investing allows you to defer capital gains taxes (e.g., from crypto) by reinvesting the gains into a Qualified Opportunity Fund (QOF) within 180 days.

These are professionals with additional training and a stricter code of ethics.

$800k at a couple extra percent means it’s costing you AT LEAST $16k PER YEAR in additional interest.

If your hold period is short, it may not make sense to take bonus depreciation.BENEFIT - Clearly additional depreciation is the benefit, but only if you can use it. 

Additionally, for the AR llc, do I need to register the LLC in California as a foreign company?

In that case, the GP, who was a cheating SOB, issued a K-1 allocating cap gains [§1231 gains] to my Client, who was a minority LP.  

In addition due to prop 13, the tax base is a fraction of if it sold today.   

Connecting with investors is a great move too; it’s one of the best ways to gain real-world knowledge and build a strong foundation for your journey.What kind of investing are you most interested in?