The other realistic option to consider is the fact that other than being grossly negligent as a property owner and landlord, is it really necessary to have this and any subsequent properties in an LLC?

This situation could be a bit of a game changer for folks wanting to exit 1031 land with more tax free dollars.If an entity owns property and 1031s and subsequently dissolves and distributes the property to the members do those members inherit the requirements of a conversion under 1031. 

Also, in subsequent mortgages, it looks better, if you have lower payments, because a bank will only count 75% of your incoming rent, so it it looks as if you have negative cashflow, you might not get a loan. 

These two will both be partially managed by, and subsequently left to, one of my sons someday. 

I’d reinforce what an eviction on his record will do to his ability to get subsequent rentals with all the background checks going on today.  

This means that the cost of this loan is reduced per use with every subsequent use of the same money. 

I’d recommend using your spouses for the second purchase so that, if not exempt, your VA funding fees will only be 2.15% for first-time use each time instead of bumping up to 3.3% for subsequent uses. 

You will pay an increased funding fee due to the subsequent VA loan, but you still don't pay a down payment, etc.....Although I am pretty savy, I am still not an expert so do all your research etc.. 

Hello Jay,it copies and paste a little backward.. but by my sending this in and subsequent meetings with the state of Oregon investigators its clear that assigning contracts with no intention to buy IE its your business model and advertising in ANY manner a property you don't own is simply illegal in this state.. 

What that means is that normally once your holding period has passed a year all the gain from that property or subsequent properties is generally treated as capital gain.