I’m also curious if it's possible to convert these units into regular apartments, as this property is located in the NY suburbs.

We have houses, duplexes and apartment buildings.  

Thanks in advance, and I'm really excited about being a part of this community!

I have been working with a wholesale brokerage here in Houston and I am an independent contractor for them and I Dispo all of their deals.

Quote from @Joseph Lawrence: Happy to be a part of this community.  

., we track all the data per each fixed asset in Google Sheets and it's a part of our monthly/yearly processes to input the appropriate adjusting journal entries so the depreciation and amortization are reflected on the financial reports on a monthly basis for each fixed asset.We have a depreciation worksheet, an amortization worksheet, and another worksheet that details all other aspects of each fixed asset (placed in service date, type of property, partners, etc etc) per client.It's nothing fancy but it works for us.

I am a physician in NYC, a friend asked me to help a single mother with two teenage children who ended up on the streets after being evicted in Houston.

If the LLC is solely owned by you, then this may be considered a gift from your sister to you which could be reportable by her, if your sister is a part of the LLC, then this is probably just a property contribution to a partnership owned by you, her and any other members involved in the LLC. 

Houston's Hurricane, Flooding) will stop a project for a long time.3.

Does it make sense to rent my current house out in Poconos, PA so we could rent an apartment in Florida?