By using a F&F calculator, you can make informed decisions, minimize financial risks, and efficiently allocate your budget and resources.

Letting the dust settle, allocating the cash proceeds.Problem.  

Your accountant would be the one to decide that.If you do qualify you will be able to take the gain allocated for that exclusion tax free. 

The gain allocated to the OO unit will be tax free up to $250,000 if single or $500,000 if married. 

Not only is this prudent business management but if you're looking to scale down the line, having a creditworthy entity that can take business loans in its own name is a game-changer regarding risk allocation.

However, when you sell the individual condo units, capital gains tax will be triggered on the gains attributable to those sales.Allocation of Basis: The original purchase price and any improvements made should be allocated among the individual condo units to determine the basis for each unit.Gains Calculation: When selling a unit, the gain is calculated based on the difference between the allocated basis and the sale price of that unit.Partial 1031 Exchange: You may be able to use another 1031 exchange to defer gains on the sale of individual units if you reinvest the proceeds into other like-kind properties.

You will need to allocate the expenses between the personal and rental portions of the house.

This division is standard unless Cousin A and Cousin B agree to a different allocation of income and expenses in a written agreement.

Is there a way where there is flexibility to the % allocation of income/expense? 

I But because the lender can allocate those riskier loan into bunch of other mortgage loan that's more "safer", the lender can somehow reduce their risk, also by requiring the borrower to purchase interest rate caps as hedges and so on.