This is what the assessed tax value will reset to after you purchase.  

To markets where you’ll gain long term tax free wealth. 

The US Government and the States have but one way to deal with this, taxes.

Hey @Nick Gallon Martin, I recommend speaking to a Tax Planner/CPA, @Jeff Nash would be a great resource for you.

However the issue that I am running into is that it does not currently have a Tax Map Key.

We just think by taking cash out nontaxed and still cash flowing, while still having tax benefits, seems like a good idea.

How is it for preparing taxes? 

And 54% of the basis would be allocated to the 200K house.You'll have a small tax bill on the difference between your sale and purchase prices.  

Hey @Scott Chauncey, for the 2 SMLLCs, as long as they are disregarded to your personal tax return you can have them within the same QBO.

Be mindful that there are rules that the lenders want you to check off.Furthermore, there are other rules on the tax side where you want to normally be under to get the most tax benefits.The magic number in both instances is '14 days'Lenders want you to stay atleast 14 days to meet the secondary home requirement.The tax accountant normally wants you to stay less than 14 days or 10% of the days it was used as a rental to treat it as a rental and not as a personal residence.Best of luck!