You've now become a mediator between them.I assume you prefer not to have the utilities and water accounts under your name.

- then get with an accountant and discuss whether it makes sense to convert your LLC to an S-corp.

Be aware of who you interview as your accountant.

Your prior question was shold I use my W2 income to pay down (aka you mean what you have saved in your checking account?).

And the net cash proceeds are what go into your 1031 account.  

I would discuss this with your accountant.

Here are the numbers I know so far:Rents4 units all currently occupied on one year leases- #1: 1/1 $995 monthly- #2: 1/1 $995 monthly- #3: 1/1 $995 monthly- #4: 2/1 $1,100 monthly- Gross rents: $4,085 monthlyExpenses- $12,070 taxes annually- $350 monthly insurance (my estimate, they have liability only right now)- $175 monthly landscaping- $120 water (electrical on separate meters, tenant pays)- Total expenses: $1,651 monthlyNOI around $2,434 before vacancy, maintenance, and management (although i would likely self-manage these)Property needs about $50K in other repairs and udpates from what I can see.

Rufo  Also consider the fact that when you switch from STR to LTR or the other way around, you will need your CPA/tax professional to do the IRS' 3115 change of accounting form to go from 39-year depreciation for STR to 27.5-year depreciation for a LTR.

And it's convenient for life if you use your personal bank account, you can still have one app for rentals and paying friends.-  Con's:  Nothing about the software per say, but about the landlord experience. 

The 25K would go towards a rate buy down.As far as accounting for cap ex and maintenance for newly replaced/updated items, I'd still recommend doing it.