are you allowed to edit the chart of accounts? 

If you did a cost segregation study on the property in the past, you may have to recapture the depreciation taken in the past.capital gain tax rates are 0, 15 or 20%There is also a potential 3.8% Net Investment Income Tax.Also, don't forget state income taxes depending on what state the property is located or your state of residency.Best of luck!

State up front you're a Coach in your post, then the obvious answer is yes from your perspective. 

I've lost count of the number of RAD investors who posted in the BiggerPockets forums about their "hard money loans" and then having their distributions "frozen".

He went back inside and got another photo of the bathroom.

I would also purchase the property and not the LLC unless you are a seasoned investor with a good attorney.

I don't know the answers on taxes, but New Jersey is the densest state in America.

Value of land?

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

Fees should be clearly stated in writing, easy to understand, and justifiable.