That’s $30k in taxes. 

Summit county (Akron) has a much lower sales tax rate (6.75%) than Cleveland (Cuyahoga at 8%).The MLS in Akron shows homes at similar if not cheaper homes but for a good reason.

Then you can do a 1031 exchange or sell it at a lower tax rate. 

LLC without S-Corp status will not give you any more tax advantages.

If a claim is filed and the property is owned through an LLC the individual members are less likely to be named in the complaint and that above all else keeps the members name out of the docket.

If you are considering renting it for a minimum of 30 days, I believe you will be exempt from any short term rental rules and taxes. 

A friend of mine invested in one last year—apartments upstairs, a small coffee shop downstairs - and the combination of income streams made it a steady performer.Scaling with a 1031 Exchange:While not applicable unless you sell a property, planning for a 1031 exchange could help you scale quickly while avoiding capital gains taxes.

Mortgage interest deductions are typically claimed by the partnership on its tax return and passed to partners via K-1 forms.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Turns out the theory was right, but the decline has been even steeper.You might be able to predict whether a future market will be better or worse than the current one, but predicting how much worse or better is nearly impossible.And don't even get me started on how sponsors could be manipulating purchase cap rate, whether intentionally or unintentionally, by reporting pro-forma caps, non tax-adjusted NOI, and so on.