Quote from @Don Konipol: Everything is good, wonderful, well worth the money, an investment in your future, member of a tribe, the networking alone is worth the money, yada, yada, yada.  

@Jason Malabute: Thanks for you time and comments I appreciate it, this being my first year with rentals may have future questions, have great day

Especially CA folks who are so in tuned to RE and owning RE as you know look at all the CA investors that flock to the mid west and rust belt to buy rentals.

That's 50k a year gone and you are losing tax write-offs and equity potential.

You start with a purchase and sale agreement and reduce everything to writing.

Best of luck on your real estate future, it's been a fun adventure for me!

DC we will see legislation introduced in the pretty soon future.

I won't just write them all here but I highly recommend contacting a qualified 1031 intermediary to walk you through the process.

@Sharvil Patel1 is incorrect because of 3.5 is prohibited in many jurisdictions or at a minimum causes insurability issues on future transfers.

Given your financial constraints and the property's ineligibility for historic tax credits, this approach allows for reinvestment into assets more aligned with retirement account rules.For future real estate investments, you don't need an LLC for tax reasons.