Anyone answering is not responding as a Tax accountant, Insurance expert or as a Financial advisor.  

Selling and buying something else you want keep and doing a cost seg in would help with the tax burden probably better in this situation.

The rates vary throughout the State because of the different millage rates and tax districts, but in Richland County for instance, the taxes essentially triple once it goes from legal resident to non legal residence. 

It's unclear on how that plays into your question about taxes.

We also had a transient tax and municipality as well.

Not really a tax question as the membership % decides who does, gets and deducts what. 

I’ve been working with real estate financials for a while, and I keep seeing one mistake that costs investors thousands: poor bookkeeping leading to missed tax deductions.🚨 Common issues I see:❌ Not properly tracking repairs vs. capital improvements❌ Missing out on cost segregation & depreciation write-offs❌ Scrambling at tax time instead of planning proactivelyI’d love to hear from the group—what’s been your biggest tax headache as an investor?

And you now have to file three tax returns:- partnership tax return- your individual tax return reporting 1/2 of the partnership losses- your partner's individual tax return reporting their 1/2 of the partnership lossesAnd while partnership return can be DIY-ed, it probably should not be.

Every time you lower your tax bracket you are lowering the value of the deductions.

Purchase price: $300 Cash invested: $300 First tax deed property purchased from Michigan's no-reserve list.