The LLC is simply the reporting mechanism to record the property's sale and to determine how much of the the resultant tax gain from the property's sale gets reported to each LLC partner/member on the Schedule K-1 issued them by the LLC.The partnership should receive the sales proceeds (it presumably made the sale - correct?) 

There are some additional discounts for having auto insurance with the same company but I didn't include those.What does the HOA cover?

Builders warranty is also something that looks great for an investor. 1 year covers materials and workmanship2 year coverage on all mechanical/ electrical and plumbing 5 year leak protection internal or exterior infiltration 10 year structural Love to hear thoughts on buying new construction?

How you ultimately financed it, upfront when you purchased it (or how you might refinance it later) is irrelevant.Just do a simple search on the internet for depreciating rental real estate property, you will find a virtually limitless number of sources that can explain basic depreciation mechanics - its not rocket science.

While the mechanics are easy, the repercussions can be significant.

Given that you clearly have a good grasp of the mechanics, I agree that if the value is peaking and you'd eventually just have to re-buy the property from the government, holding on to it long-term is maybe not the best course.

Chris,Chris,If you hire a company to do the repairs and they pay the employees then you need to see proof that the company has General Liability, Business Auto, and especially WORKERS COMPENSATION.

You will need permits for sure and mechanical drawings.

Anybody heard of a frivolous mechanics lien?

I agree some things will be very different in the auto industry but I don't see it changing real estate nearly as fast.