I've been involved in two JV BRRRRs with Land Trust ownership structure, the one we still own happens to have Joe Seagle's company as trustee who replied above.  

Don’t be involved with those properties in ANY other way (management, lending, repairs, etc.) 

Now she is interested in getting involved and is open to a career change.Question: Is there a job she could transition to where she would match her current salary and benefits?

Not to mention, you've now become reliant on a 3rd party for income streams, and yes, they do occasionally run short of funding and, yes, they have no compunction with telling you to pound sand until they get new funding. 

While you can't create limitations against their lease and legal rights they have for quiet enjoyment, things like keeping common areas free of clutter or routine maintenance items that are tenant responsibility can often be added to help keep the expectations on both parties clear.

It's definitely more intimating and involved than a rental could be, but you may be able to make a lump sum of cash in 6 months or so that you could use towards other investments!

If not, even though you are a re pro, losses are passive & deductions are limited.There are 7 scenarios that will qualify as material, and you only need to meet one:*500 hours*Substantially all participation*> 100 hrs and at least 1/2*Significant participation*5/10 years*Personal service activity w participation in last 3 years*Continuous participationTo materially participate, you must be involved in the operations of the activity on a regular, continuous, and substantial basis.Once you pass the pro test, the material participation often comes along for the ride.You can elect to aggregate all rental real estate for purposes of measuring material participation under Sec. 1.469-9(g).Your time spent on all your rental properties (STRs don't qualify) counts as one activity, making it easier to materially participate.In order to make a strong case with your CPA and the IRS you need to document your hours.Best practice is an hours log where you are as specific as possible.

A resolution might involve a refinance or buyout agreement to remove her from the mortgage, aligning ownership and liability.This post does not create a CPA-Client relationship.

This is bogus if buyer and seller are independent parties (if the parties are associated then I understand setting true value) as there is usually a reason for the discount purchase (risk items like unpermitted work, crazy low rents in rent controlled area, hoarder, heavy need of rehab, etc).  

I live in the US and some of the questions I have involve lending options to help me out with the construction loan and approaches to managing the property as a short-term vacation rental.