We are a PM, I do think there is a distinction between mom and pop/self managed and PM's with dozens of properties.1.

Perhaps there is another reason for the distinction........perhaps it none of my business which needs to be the focus of my attention.  

I'm self employed, but last year my duplexes took priority and earned me the distinction of meeting the IRS definition of a real estate professional.

An asset is appreciated to 185k  DSCR Loans should be a good option for you - while guidelines and offerings sometimes mirror conventional/fannie/freddie, most DSCR lenders have move toward having no distinction in pricing and eligibility for condo investment properties warrantable vs. non-warrantable

You thinking about it as "decreasing your living expenses" is a semantic distinction.

In Philadelphia, the distinction is between a single/multi family home versus a rooming house.

The first is the distinct possibility of being an out-of-state landlord (even with the frustrations of getting a good property manager).

An LLC or Corp is a whole new person in the eyes of the law, but the distinction is that it is not present PHYSICALLY.

@Jason DiClemente Is the distinction if you're transferring a home without consideration, but there is a mortgage balance, then transfer tax is due on the outstanding mortgage balance?  

And the rest of the % of the property can be taken by you or anyone.As far as the TIC part it's important to think of the replacement property as two distinct properties that just happen to be a smaller piece of one larger property.