So that just tells everyone who you are and where you live.One way I think LLCs can simplify your life is when you want to transfer ownership.....lets say to one kid and you have 10 homes in the LLC....one document can probably do that, vs 10 deeds and 10 filings at the courthouse.Good luck and let us know what your CPA says.

I should have simplified it.

The landlord is moving from the area and doesn't want to hire management, divesting to retire or buy a bigger house for his family, or just decided he wants to simplify but doesn't want to have to force the tenant out.  

If the software is not simplifying your life or making you more accurate, you shouldn't use it.Software does have extremely helpful features like online payments, marketing syndication (click a button and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

If the software is not simplifying your life or making you more accurate, you shouldn't use it.Software does have extremely helpful features like online payments, marketing syndication (click a button and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

You lowered my stress immensely by looking at this from a simplified business perspective. 

I grossly over-simplified in my response.

If I’m a passive investor, I need more than a simplified graphic. 

Simplifying life by selling one of the places may not be a bad idea. 

So when you sell the property, your basis will be ( simplified ) purchase price (100k)+Settlement cost( +5k)+ improvement (  0 since its turn key) - depreciation (-5k)= adjusted basis ( 100k) SAle 100k - adjusted basis 100k = no gain.