It has so much potential.

You can find tons of cash flowing opportunities here and you get amazing appreciation potential as well.

Hopefully your lawyer also mentioned insurance- title and hazard.A quitclaim deed transfer can hurt your title chain and title insurance. 

To minimize capital gains tax on the sale of their primary residence, your in-laws can utilize the $500,000 capital gains exclusion, potentially explore an installment sale to spread tax liability over several years, or consider converting the property into a rental to use a 1031 exchange for tax deferral eventually.

Perhaps we need potential forum users to take a basic etiquette quiz before they can post!

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

Good afternoon everyone, I am an Airbnb host in NYC and I am looking to get in touch with a lawyer that works with short term rentals.

Not an ADA expert, certainly not a lawyer.

I've never heard money/profit described as cute, so it's not important.The most important thing you mentioned, was the rent potential and ARV. 

Once I've completed these initial projects and built up some capital, my long-term goal is to transition into buy-and-hold investments in potentially more affordable markets to maximize cash flow and scale up.Right now, I'm particularly interested in investing locally here in the Seattle metro area.