What paperwork should I keep a paper trail of to make things like taxes and other situations better/easier for myself?

There are less taxes in Alberta too.

It's been challenging to find resources or training for Yardi outside of obtaining a job that demands prior experience with the software.

If you are raising capital from people you don’t have a prior relationship with, and even people who you do, they would regard you as serious only if you had a professional prepared PPM and Operating Agreement.

About 90k that will be taxed at 40% if I take it now.

Apologies if I missed prior posts asking the same thingI want to take advantage of the low down payment requirement however need to find a lender supporting this loan type.Can you please provide any recommended lenders for Homestyle loans (or even 203k) that serve DFW? 

Even if you create a non-CA LLC, if you are managing the business from California, you will likely be deemed to be "doing business" in California and therefore likely subject to CA taxes.

So all of the gain and depreciation recapture are initially still tax deferred.However, like Joe said, the down side is later when sold  you lose the 1031 option. the client will pay tax on all gain and depreciation recaptured from before the 1031 also. 

If you do place the property in her name, you've got a Gift Tax (Form 709) to complete. 

If so, there are no transfer taxes due.