In the meantime learn and figure out how to increase income/savings.

When they started screwing with us last week about appraisals and then having to give them an ‘after reno’ price for the house when they had no idea what we were doing the house to increase its value, I did mention to the partners I thought we’d been scammed.

Many states have discounted property taxes and lower yearly increases for owner occupied properties.

Would it make more sense to move the money we make from selling to a different property that could potentially increase our cash flow? 

Property is $6.5M, leased for 20 year corp-guaranteed with a current rent of $450K (10% increase every 5 year).

There may some merits to investing upstate/western NY, but I would suggest doing some serious homework into eviction timelines, annual rent % increases, etc. 

Tell him it's time to do a remod and as a business you hope to market the place at a substantial increase.

My interest in entity transfers is the ability to forego a massive increase in the tax bill upon reassessment.

After that's under control, focus on increasing income through additional work at your current job, taking on a side hustle, or finding ways to increase income on your existing rental.At the same time, educate yourself.

Any impending Insurance coverage or increases?