You should consult an attorney or CPA for your specific situation.ANONYMITY: When you create the LLC, your name is recorded on the documents and published on the Secretary of State's website for all to see.

This might make sense, but again, you are just deferring the taxes and now pushing tax from capital gains to ordinary income. 

You may be able to deduct mortgage interest and property taxes before the property is in service. 

For tax purposes, rental income is generally recognized in the year you receive it, not when it is paid.

I’m sure you won’t be verbally assaulted about how greedy you are Basically they were gifted $60-$120k tax free. 

I’m in the 33% tax bracket through my real job and this could be a big difference in taxes owed if we sold the property?

@Brad Kanouse Using Traditional IRA funds for an investment property typically incurs income tax and a 10% penalty if you’re under 59½, as investment properties don’t qualify for tax exemptions.

This appears to be a 'transfer tax' instead of an income tax. 

$6K in taxes and expense vs $17K in Federal and State taxes.Ok so after all this, book a consultation with a tax advisor.

Renting at FMV allows you to deduct mortgage interest, property taxes, repairs, HOA fees, and depreciation against your W-2 income, potentially reducing your overall tax liability.