Would I have to transfer ownership of my rentals to these LLC’s?

.- Married couples filing jointly can exclude up to $500,000 of capital gains.Conditions for Exclusion:- Ownership and Use Test: You must have owned the property and lived in it as your primary residence for at least two out of the last five years before the sale.- Frequency: You cannot have excluded the gain from the sale of another home in the two years before the sale of this property.For a duplex where you occupy one unit and rent out the other, the rules are slightly different:- Owner-Occupied Unit: The portion of the property you lived in qualifies for the exclusion, provided you meet the ownership and use test.- Rental Unit: The portion of the property that was rented out does not qualify for the full exclusion but can benefit from partial exclusion based on the proportion of time you lived in the property.

I do not want to go into another vacation market but rather a metro area with a more diversified economy again just to get into a different type of asset.That being said I do want to continue to short term rent the next few properties we get at least in the first few years of ownership in order to increase cash flow to combat these higher prices and carrying costs before potentially converting to more passive long terms down the line.Therefore I am looking for markets that 1) have a decent draw of visitors year round 2) have regulations that allow strs in some parts of the city 3) Are in growing cities in the west or south.Below is a list of markets I have identified as potential places to look and I was hoping to get some insight from either other investors doing the same thing or agents/investors in any of these markets on whether this is potentially a good market to explore or not.1) Salt Lake City (this is right at the top of my list due to its proximity to ski resorts, expanding of the airport and long term strategic business planning of the area but I have very little knowledge of this market)2) Denver 3) Phoenix (used to live in AZ and like the fact that the state of AZ seems to look favorable on strs)4) Tucson (see above but lower home prices/potentially less appreciation)5) San Diego/LA (these are attractive because of their proximity to my home in Irvine)6) San Antonio (love that it is very close to the booming Austin and feel that this is a market that could see some real growth in the future)7) Tampa/St Pete (I have always been very interested in this market for both short term and long term rentals)8) Raleigh (have invested in Charlotte and love NC but again very little knowledge on this area)Any insights or advice on any of this would be greatly appreciated.

Transferring Your LLC via Will:Review Operating Agreement: Check if your LLC’s operating agreement addresses ownership transfer upon death.Update Your Will: Specify in your will that you intend to transfer ownership of the LLC to a named individual or individuals upon your death.Consult an Attorney: Seek advice from an attorney specializing in estate planning and business law to ensure your will is legally sound and compliant with state laws.Consider Tax Implications: Understand potential tax implications of transferring LLC ownership through your will and plan accordingly.Notify Your Successor: Inform the person named in your will about their future role in the LLC and provide necessary documents.Please feel free to reach out if you need any further assistance. 

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

I know home ownership isn't for everyone, but with that amount of income, they shouldn't have any debt. 

False.When an entity or a human has capital gains you owe Uncle Sam.How will you vet and continue during the years of ownership to verify who is an American and what percent the mix?

Hey Stacy,In the scenario where Cousin B buys 50% of Cousin A's primary residence as tenants in common, rental income and expenses typically follow each owner's ownership percentage.

Separately, I have 50% ownership of an LLC that holds real estate on which we are building a new investment property. 

Bring on an equity partner and give them portion of the ownership.