Service disruptions can understandably lead to frustration.From my perspective in the self-directed IRA industry, effective communication and responsiveness during transitions are crucial to maintaining client trust.

You can't just give it to another tenant to run, their leadership and authority will be questioned by your other tenants.  

For example, if your purchase price was $300K and the FMV at gifting is $500K, the recipient's cost basis remains $300K, potentially leading to higher taxes upon sale.You and your spouse can gift up to $38K annually per recipient (under the annual exclusion) without reducing the lifetime gift exemption.

WARNING: if you do not prepare for this, you can enter a death spiral: deteriorating properties lead to lower rents, worse tenants, more wear and tear, even less cash flow to fund repairs and ultimately erode asset value.I do not mean to rain on your parade, hopefully, this is a helpful long term perspective. 

About two weeks later, the appraisal came back with a value that was off by approximately 35%, leading the lender to reject the loan.I contacted the lender to explain why I believed the appraisal was flawed.

That might cause you unnecessary stress and lead to dropped balls for your clients. 

In my case, flood insurance was under $1800/yr and for the numbers made complete sense for me as a good deal with that added cost.4) Flood zone AE does not directly impact resale value, but can reduce the number of buyers considering your property which can lead to slower sale through time and potentially lower prices.  

As a starting point: -If they work full time and make $700k a year -Don't want to or can't spend time self managing a short-term rental -Don't have a spouse who wants to take the lead on managing the rentals They are likely not going to directly reduce their taxable income with real estate year-to-year. 

Repetitively reading/hearing about something often leads to action, but make sure you don't get caught in the knowledge-gathering phase forever!

We set up our CPA, LLC, website, marketing plat forms (social media), investor (sponsors) list, I have an operation manager, acquisition manager, and myself leading the charge.