Make your mistakes on paper first.Goid luck.  

While that may sometime be true, full disclosure to all parties should eliminate any ethical or moral concerns (imo).  

Since you are married and live in a community property state, the IRS treats your joint ownership as a single owner for tax purposes, meaning you can answer "No" and proceed with disregarded entity classification.If you want to eliminate confusion going forward, you could dissolve the current LLC and set up a new single-member LLC under one spouse’s name, ensuring automatic disregarded entity treatment without needing to file Form 1065 in the future.

Splitting the gift across multiple years may reduce immediate tax reporting but requires appraisals, legal documentation and proper structuring.If the house is highly appreciated, holding it for inheritance may be more tax-efficient because the recipient would receive a stepped-up basis to the FMV at the time of your passing, eliminating much of the capital gains tax liability.This post does not create a CPA-Client relationship.

I've known new investors who have lost more than $50K on coaching programs so count your blessings and learn from your mistake.

That pace feels pretty good to me...I can get past the "rookie mistake" phase of my career before there is investor money on the line, and I can "fail small" because SFRs and small multifamily doesn't hurt as much as larger properties when things go wrong.Timing had a role, too.

It’s one thing to learn, but turning knowledge into action—mistakes and all—is what separates those who dream from those who achieve.Let’s keep building and growing!

Mike,Take a look at the penalties for making an honest mistake with a retirement account. 

Everybody is different, but the climate is tougher now as carriers begin to cull customers to eliminate unprofitable ones.  

If I put 10% down, with on time payments, I’ll have 20% equity in about a year or so, eliminating mortgage insurance.