Gifting equity in a house may be more trouble than it is worth if you are not near the life-time exclusion1) Potentially having to get the property appraised everytime an equity is gifted2) Having a title company update the title every time3) Exemption of the gift tax return is normally for cash gifts below the annual gift tax exclusion, you may still need to file if you gift non-cash4) If there is partial ownership over several years, having to properly pro-rate certain items such as real estate taxes, mortgage interest and rental income if the property is a rentalBest of luck 

Wanting to know who we can reach out to for management, estimates on potential income/expenses. 

I am trying to tabulate Business that may have higher depreciation but yet help me build wealth in form of real estate or potential customers for variety of services. 

Hi Ethan, I would not entertain the idea of getting more money from this tenant in order to potentially increase your cash flow. 

You can find a potential partner at your local REIA group.

Originally posted by @Dominic Battaglia:Going to Windsor this weekend to look at properties man, it looks like a great place with potential!  

OP I think you’re in a great geographic spot and potential REI strategy potential.1.  

I’m looking at a 3/2 or 2/2 potential MTR / STR in East Hill, those unfamiliar with the area it’s  about 10 min or less from downtown. 

Cash flow can be great if you manage it well and keep occupancy rates high, but factor in the added costs of management, cleaning, and potential vacancy dips.

Buying a second home to rent out is a solid strategy, but be sure you understand the cash flow, including mortgage, taxes, and potential vacancies.