You likely only made a down payment of 3-20% ....but you still get to write it off on the full value across 27.5 years.So 400k/27.5 = 14,000 ish a year of a write off where during the year you didn't need to incur an actual expense, no cash outflow. 

He actually was supposed to renew a week ago. 

But if you go over, you don't actually have to pay any taxes on the gift until you go over your lifetime gift exemption which is like $13 million, which i guess the IRS tracks.

In all actuality move in Inspections are a waste of everyone’s time and they are very inefficient.

I personally would sell the house - it's negatively cash flowing ~100/month, if you were to add in repairs/maintenance, CapEx, vacancy, rising insurance/property tax costs I would think you're actually losing more than you estimate (luckily it's new so you are on the very low end of that right now).

Personally as an investor, we have recast our growth goals several times over the years, but ultimately if you invest for your lifestyle you don't need 100s of doors - that is actually counter productive.

For a condo you can/should check the county assessor for land value  (you would apply the same allocation %, don't use their actual number listed) Also check your HOA documents.

Lol that's actually kind of funny - but as others have said, that is nothing more than the cost of doing business. 

Thank you Jaron..really do appreciate the guidance and candor…I am probably not articulating the finer points well…my daughters are actually only the tennets…they are not involved in any of the potential decisions I am considering.  

But I ran some actual reports for clients this week and wanted to share.