This approach simplifies the sale and avoids unnecessary legal or tax complications.If she want to share the proceeds and tax obligation in a technical way, she need to file a partnership return for this property.This post does not create a CPA-Client relationship.

He tells you to pay him $5,000 (or much more) to learn all the "secrets" that made him wealth, but then he doesn't tell you that his "secret" was to increase earnings, reduce expenses, save up and invest.

Two repairs can often cost as much as a new unit, and manufacturer warranties can be a headache to use.

You’ll probably need to submit plans or drawings of the work that was done.

But you have to purchase new investment property of at least as much as your net sale to avoid tax. 

Due to current interest rates, many CAP rates are much lower than they should be and usually there is only so much price discount a non-delinquent seller will be able or willing to offer.

It is somewhat complex to try to explain on a forum, but at a high level, you (aka GP) and your family member (aka LP) would agree on how much the 2 of you would put in for the amount of equity needed (usually expressed as a %).

Thanks so much!

Need I be concerned with UBTI?

Probably not enough the IRA to own real estate given reserves needed and such.