@Bruce Lynn Hey Bruce thanks for this advice.

This is an incredible community to call home!

This seems to follow the general overall trend of lower cost areas winning at the expense of those with a high costs of living.

Hey @Stephanie Medina, this comes up fairly regularly and is really an individual situation.

Is this a good deal relative to the area?

This step by step process is all laid out in Scott Trench's book "Set for Life".

We would take this house in return for a 500k property that is NNN leased.  

This is crucial for keeping your finances organized and protecting your LLC’s liability status.Here are some questions to ask when choosing a bank:Fees and Minimum BalancesDo they charge monthly maintenance fees?

Quote from @Alex Brown: Seeking recommendations for a CPA or Tax Strategist who specializes in RE and REPS Status.This post should help:https://www.biggerpockets.com/forums/51/topics/1222774-expla...And none of us is allowed to offer you our services as long as this post is in the tax forum.

Hope this help.