Here are the numbers: Owed: $75,000Appraised Value: $245,000 Home Comps in the area: $1.5 Million I assume we would need to take title as tenants in common with 50/50 ownership? 

It sounds like your parents provided you a loan and do not own the property.The gain will be allocated to the person who owns the property(The one on title).

Once those guys are in place and you have a go-to title company that your realtor recommends and a lawyer.

Formed an LLC to hold title to the property.

What is your experience in transferring the title to an LLC?

This house isn't winning any architectural design awards on the outside-- I joke that it is having an identity crisis.  

You need your spouses name off both the mortgages and titles.  

Including, but not limited to, contractors, lenders, wholesalers, potential sellers, potential buyers, attorneys, title company, inspectors (all types!)

I've used Title companies for the handfull of Exchanges I've done, but the last one was problematic.  

If you are getting the property from a wholesaler or other assignor, we need a complete, fully-executed copy of the assignment as well.3 Months Asset Statements: Please provide 2 months bank & brokerage statements, all pages (even if they are blank).Survey: The title agent will need a copy of the survey.