I will post back tommorrow after I get details of offer. 

So, there's more than one way to create more cash flow than refinancing:-). 

It's not "risky" as most on this thread make it sound.It's not a "risky business" opportunity because the "LLC" must only be created for that transaction ONLY (w/ a partnership agreement with the seller).   

I’ve been involved in property management for over a decade and have a passion for optimizing operations, maximizing cash flow, and creating great experiences for both tenants and owners.I joined BiggerPockets to connect with like-minded investors, property managers, and real estate professionals.

While gifts exceeding $18K per year (2024) require filing Form 709, they don't create an immediate tax, but the IRS may scrutinize this as tax avoidance.Tax-Saving Alternatives:Prorated Section 121 Exclusion – If you lived in the home part-time, you may qualify for partial tax exemption.1031 Exchange – If your share was an investment property, reinvesting the proceeds defers capital gains.Installment Sale – Spreading payments over time may reduce your tax bracket.Adjusted Basis Review – Factor in capital improvements and selling costs to lower taxable gains.This post does not create a CPA-Client relationship.

Check out FilePlace, where user-created forms are available for free.

@Lexi Blocksom suggest you discuss in detail with @Russell BrazilYou've made a mistake thousands of naive investors have made - expecting Class A results from Class C & D properties:( In general, you'd want to compare what you can sell the property for now versus what it would cost to update it and what you could then sell it for.

If a cost segregation study was performed, the accelerated depreciation may further reduce the property’s basis, potentially increasing taxable capital gains when sold.Depreciation recapture will occur when you sell the personal residence, so it’s essential to keep detailed records of all depreciation claimed while the property was used as a rental to ensure accurate tax reporting at that time.This post does not create a CPA-Client relationship.

This may also create some competition for the space and urgency to get the documents back to you.

If you're interested in seeing how that all breaks down from an income and expense standpoint, I created this Sankey diagram to share with you:As for me, I'm planning to leave my w-2 job and take a little career break before deciding what's next for me.