Hi Diana, these are pretty common problems that investors run into.

Common types of renovations that can reduce your tax liability are adding new bedrooms, bathrooms, etc.; remodeling an existing space; replacing or adding AC, flooring, insulation, roofing, etc. 

Many states --- including Pennsylvania --- recognize what is commonly known as "participation theory," which holds owners/officers personally liable for the corporation's torts if they participate in them.

So transferring properties with existing mortgages into an LLC without selling them to the LLC is a common strategy for most real estate investors seeking to protect personal assets and possibly enjoy certain tax benefits.

We hold title as tenants in common  with an assumed 50/50 share of each property. 

One of the most common topics discussed on bigger pockets and other real estate forums is the decision between a property that cash flows and one that has the potential to appreciate. 

I do not know to say whether the 3 bed + den v 4 bed makes a difference but hard for me to believe it does not, unless it is commonly known that families can use dens as bedrooms? 

It would be possible if you buy the acquired property as Tenants in Common

Also, have your Realtor check for any special assessments that the HOA might be charging for repairs in the building or in common areas.3.

I may have been listening to the podcasts too much (I'm through around half of them)I'm all for giving the current tenants a chance, but it seems like I have to just take them without knowing anything about them, no idea of how they were screened, their payment history, etc.This is just a duplex, is it a very common thing to sell an occupied unit (on the lower range, not 4plex+)?