If you see someone violating the rules, create a post with "@moderators" and we will receive a notification and respond.Again, welcome to BiggerPockets and happy investing!

I would suggest getting another full-time job for the time being and investing/doing STR on the side until you can fully and comfortably replace the income that you would be receiving from your job.Is your LTR in need of repair?

I assume you would have to pay cash, because you have to spend all cash received to avoid taxes.

Everything worked out okay but we received advice from our CPA after forming our LLC that we should have structured things differently but by the time we met with him it was already done. 

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We STILL have not received our construction loan from our bank because of this DELAY in tax filings!

When transferring real estate as a gift, it does not receive a step-up basis, as it does when it has been inherited.

I understand this is not a requirement, but I have never received a damaged unit from an inherited tenant or any legal issues.

I would not plan on receiving those funds back.

Make sure you receive PRINCIPAL plus interest each month (loan amortization) so that you  will receive $3226.72 each month for 36 months.