Account Closed  Exactly as Greg posted above, getting a judgment would prob be the easy part, collecting on it, almost impossible unfortunately.

In most circumstances, if hard money was used to purchase the property, there will be a due on sale clause as others have mentioned that would be triggered. 

Real estate funds also allow you to invest in real estate without worrying about depreciation.Investors may benefit from pass-through depreciation, and the tax benefits will rest on the investor’s shoulders and be driven by their circumstances.

Tracy is good for investment but unfortunately ROI is not very attractive at this moment

I’ve spoke to Lucas and ended up agreeing that in my particular circumstances - there wouldn’t be enough of a financial increase to outweigh the additional labor (Albeit as small as it would be).

Unfortunately, this trip is only to Houston and Dallas but future trips will include San Antonio.  

Hey @Amir J Reichental, There are small pros and cons to this: Home Address:Pros:Privacy: Providing your home address keeps your personal information private, as it's not tied directly to your business.Convenience: If you're already receiving mail and other communications at your home address, it may be more convenient to keep everything in one place.Cons:Risk: Using your home address exposes it to potential risks associated with the property owned by the LLC, such as lawsuits or creditors targeting your personal assets.Tax Implications: Depending on your jurisdiction, using your home address could have tax implications, especially if you're claiming any tax benefits or deductions related to the property.LLC Address:Pros:Asset Protection: Using your LLC address helps separate your personal assets from your business assets, providing an extra layer of liability protection.Business Image: Using the LLC address for business-related documents can help establish credibility and professionalism for your company.Cons:Public Record: LLC addresses are often part of public records, which means they may be more accessible to anyone who wants to find information about your business.Mail Handling: If you don't have a physical presence at the LLC address, you'll need to ensure mail forwarding or a reliable method of receiving important documents.Ultimately, the decision depends on your specific circumstances and priorities.

If she sells the property before that date, she would not qualify for the full exclusion unless she meets certain exceptions such as unforeseen circumstances like job loss, health issues, or other qualifying reasons outlined in IRS Publication 523.Regarding prorating the exclusion, unfortunately, there's no provision in the tax code for prorating the exclusion based on partial years of ownership or residence.

Fast forward to the present, and unfortunately due to hard times, I've since lost almost all my life savings and am long-term unemployed.

And there's no circumstance in which they can go on Schedule E. i.e., you just take the hit.That makes sense/seems fair.