While gifts exceeding $18K per year (2024) require filing Form 709, they don't create an immediate tax, but the IRS may scrutinize this as tax avoidance.Tax-Saving Alternatives:Prorated Section 121 Exclusion – If you lived in the home part-time, you may qualify for partial tax exemption.1031 Exchange – If your share was an investment property, reinvesting the proceeds defers capital gains.Installment Sale – Spreading payments over time may reduce your tax bracket.Adjusted Basis Review – Factor in capital improvements and selling costs to lower taxable gains.This post does not create a CPA-Client relationship.

Quote from @Michael Navales: Quote from @Budhavarapu Ranga: Hi,Me and my friend OOS have bought a new single family home in Buda TX as a rental investment.

Congrats on owning your first home in North Port, FL and looking to take that next step into long-term rental investing.

_______________________________________________________________________________Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.

@TJ Woolum - save your money (many will be glad to take it), rather invest your time and energy  to connect with the right people!

You need a commercial investment-focused broker with no seasoning requirements or not as strict as standard traditional guidelines.

IMO Real estate investing is FUN.

Retired and looking to invest in properties for rehab, rent and refi.

Investment Info:Single-family residence buy & hold investment.

I enjoy owning it.Do you invest in real estate to make a profit or solely for the enjoyment?