I would like to transfer the property into my own name so that I can utilize the equity to acquire rental properties.

Through a lot of documentation, I also called out the title company for never providing me a earnest money receipted check or wire transfer - I simply got a letterhead saying the money had been deposited.

The transfer fees/taxes for the deed can get into the $400 - $500 range for each of these. 

You must occupy for 12 months but unforeseen circumstances such as job transfers and such can reduce the period

My sister is selling her house to me; however, we want to do a mortgage transfer since she currently has a 2.5% interest rate, but the bank will only pay what is owed on the current mortgage.

This will decrease sound transfer and vibrations.

If this election is made, the term “section 179 property” will include any qualified real property that is:Qualified improvement property as described in section 168(e)(6) of the Internal Revenue Code, andAny of the following improvements to nonresidential real property placed in service after the date the nonresidential real property was first placed in service.Roofs.Heating, ventilation, and air-conditioning property.Fire protection and alarm systems.Security systems.https://www.irs.gov/publicatio... 

The answer is in the published terms of sale.Find a title company that understands that all that matters is that the sale proceeds wire transfer goes to the correct party. 

Najeh,You will want to focus on investing in areas where basic improvements such as curb appeal and internal updates (ie kitchen/bathrooms) would support higher property values that you could refinance or sell to make your money back. 

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