Awesome to hear how you have your structure set up @Shannon Mogilinski, it's quite obvious that you all are dialed in on your proccess - I love it!

There's lots of tax planning on this and I would suggest to take a professional opinion on how to structure a transaction in a way that you can make it into capital gain tax or reduce self-employment tax.

The structure of the transaction is much more important than is generally recognized.  

As Greg noted, there is a lot that I would want to be crystal clear on with how it is structured, how you can remove yourself, if needed, how you can change management or sell.

They said it is in a trust and structured so that it can't be sold until the owner's death? 

Perhaps you could form an LLC later on down the line to clean up the structure after some time.That way you'll be able to do clean 1031's with your new partner from property 2 --> property 3 ect.....

Great question, and I commend you for thinking ahead when it comes to estate planning and ensuring your investments are structured properly!

The sad truth is most who spend unnecessarily on asset protection have no understanding of what they paid for or understand how the entity structure will actually benefit them which is even more mind boggling.

Because of this, they have changed their fee structure on me two times in the past two years2) They don't have back up cleaners so when the cleaner can't clean, they block off my calendar3) They do not have easily legible financial statements and do not provide 1099s 4) They have made decisions that have required my money without consent5) They block off check-ins on Sundays6) They are not great with technology - though they try to use hostfully to list on many platforms, I will frequently see that my listing is not up on VRBO for example.

Friend's high school teacher owned the property.I negotiated the deal and structured the proforma.