Also Minoan has so many companies to choose from which makes it confusing if you don't know the suppliers well.

It sounds like a single family house where you will be living in the house(personal use).Therefore, you may not be getting the tax benefits you think you are.Consult an accountant.I am not sure why your sister would agree to this as well, she is losing $170,000 in this transaction and she faces the possibility of you increasing her rent.You also have to charge market rent or close to market rent or it is all deemed personal use.

Our end goal is to be in a position where we can be very selective and choose the clients and properties we work with so that doesn't happen.

Everyone I spoke with was knowledgeable and pleasant.

I might sell some units as well. 

Well said by @Matthew Becker! 

Quote from @Chase  I hope all is well!

We have sold (tax free), kept as long term and/or short term rentals as well.

And yes, the income from renting is still taxable, but ideally you are offsetting a chunk of that with depreciation which is a non-cash expense.You should read Amanda Han and Matt MacFarland's books as well which are available in the BP Bookstore. https://store.biggerpockets.com/products/tax-strategies-book...

Dave NA ,Non LLC and non corporation husband-wife holders of rental properties do not have to file a partnership return; They can file Schedule E.The problems comes if it is held by an LLC(Two-member) in a non-community property state.For the management activities I would still recommend using an S-election or C-corp if applicable.