Registering as a foreign LLC allows you to maintain continuity with your existing business structure, branding, and EIN while operating legally in the new state.

While time consuming, I did learn a lot and was within $2,000 of my initial budget.

You can also find various contracts online, develop your own then have an attorney review it to ensure it has teeth, and is legal in your area.7.

Note that legal and transfer costs are not deductible but can be added to your cost basis.

Seems to me my options are...SELL - If I were to put it on the market I think I could reasonably get $2.8M - $3M, but at a 2.9M sale price my return on my initial investment is only 38%, or 7.6% a year over the 5 years.

I don’t have any legal advice, but maybe some helpful perspective.When we return security deposits, we write the check to all tenants on the lease, such as “Tenant A or Tenant B”.

To avoid reducing your lifetime exemption, you could gift equity incrementally, but this requires proper legal structuring (e.g., fractional ownership transfers).

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall loss.

We were initially looking out of state for a potential move and or investment property just because the property taxes without being able to homestead, plus high cost of insurance, and harsh weather on homes made me feel like it might not be worth it.