But that's not your problem. 

The problem is the credit I’m able to receive is already maxed out.

Thanks to step 3 and 4 above, the short-term rental will be considered “non-passive” and losses can be used to offset your W2 income.The problem?

In 5 years I have not had a problem.

That may be able to get you important information.You should have no problem selling it as is and probably get all cash especially a two family in Queens. 

.- $150k worth of 5/7-yr property which is appliances, cabinetry, carpets etc.This is pretty typical for a commercial property cost segregation, and I see nothing wrong with it.The problem is in the line above that, called "Selling price."

Are these major problems?

Anonymity: What specific features of each state's LLC laws enhance privacy, and how significant are these differences in practice?

Central to my argument would be that making sweeping changes to the covenants themselves or changing how the covenants have been historically enforced only addresses the current problem indirectly. 

I had an estimate done ($7k) because at this point the sprinkler piping is exposed and I'm afraid that could lead to an even greater problem.