Shouldn't be any extra taxes involved.

Keep in mind that property owners have experience significant hikes in their costs as well (property insurance and property taxes). 7.

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

You mention tax benefits.

It seems that investing in improvements while I still live in the home wouldn't be tax deductible.

@Claude Diehl,You don't need a CPA or tax expert here; this is a straightforward transaction.

After this tax year, I will know exactly what I need to do to progress.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Now, with taxes, insurance, and interest higher and rents not keeping up with property values, most investors are putting more down to get the properties above a 1.0X DSCR. 80% is acceptable, but the issue is getting the property to cash flow at the higher amount. 

Then I would have a little more equity and like you said at that point it would be a loan against an investment property which is tax deductible right?