I offered to buy the portion off of the two sons who I’m very close with and would never prevent them from enjoying the property but my thoughts are to simplify give them money so they get something out of the property that was their dad‘s and still allow them to enjoy visiting the property but without any of the headache of future payments to taxes and repairs etc.

*Please note this is a simplified explanation and each policy can be written differently.

The calculator is based upon simple cash flow calculations with simplified inputs of whether or not a property cash flows.

In the long run that might be what we end up doing in order to simplify everything, but it seems like a lot of hoops to jump through both from a business structure perspective with the state and from an IRS perspective.At this point I don't see the LLC structure offering us much protection, since many of our properties are titled in our personal names anyway, and tenants/guests are just as likely to sue us personally as to sue the owner of the property.

A simplified spreadsheet with averages sounds like the way to go.

I just finished the How to Invest in Real Estate book and it was a great primer, but I could probably stand to have it simplified even more (crazy, right?).

@Justin Cox leave it all in one account to simplify the administrative burden.

Long story short we are selling and simplifying our living situation.

That will be up to you to decide if you want to do value add (potentially grabbing more equity in the deal) or just doing something turnkey to simplify your entrance to a new market. 

Hopefully I can help simplify this.