Two of the units have their own W/D. 4 others share a separate W/D so it isn't taxed very much.

Imagine a $185K income earner ($100K after tax) having a $600K mortgage.

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

Your also spending 4-5k a year in taxes on a 90k house. 

Don't forget your taxes on a sale!

If you want more cash flow and want to walk away with more of the 80%, perhaps identify another market and do a 1031 exchange so as to not pay capital gains taxes.  

This was a few years ago, but at that time as I recall they were looking to do more long-term property leases over owning properties and doing pretty landlord friendly leases where they would do repairs and even pay property taxes. 

3.Draft a written agreement where the property owner retains full ownership of all guest funds (nightly rates, cleaning fees, and taxes), while the cohost invoices for management fees and reimbursable expenses?

Consult a tax advisor to optimize the use of passive losses and explore potential benefits from selling stocks.This post does not create a CPA-Client relationship.

Likely it is just a quit claim deed to your new name, however, also note that some states (ie MI - requires another form to be filled out and it changes our taxes - or can change them....).Get the help you need to make sure it is done right without costing you extra down the road.