And I could use additional 200K or so to fund my next investment property. 

Additionally, forming a new LLC may require obtaining a new EIN and business bank account.This post does not create a CPA-Client relationship.

Cash-flow is for "keeping the lights on" as in covering operational expenses to defend against any need for additional capital investment. 

Quote from @Victor Yang:In addition, is it possible for me and my wife to gift 36k worth of equity per year of the house (under the annual exclusion limit) and therefore have none of the costs go towards the lifetime gift limit?

If there is no debt service probably 30% is still going of the rent is still going to operating expenses which means that you only made about 480k or so. 480k rents + 800k property is the same 1.3million roughly.

Eliminate debt, establish a budget, and save.

After talking to support (who were actually quite responsive and helpful), they told me I had to publish the ad with only one photo first and then re-post the ad with additional photos later to force the first photo to be first.

Eliminate debt, establish a budget, and save.

Most look at a Certificate of Insurance and confirm coverage limits but best practices are to (1) become added as additional insured under contractors policy and (2) understand coverage exclusions which are not going to be detailed on an insurance certificate.

@Kevin Connauton most PMCs won't touch this type of renting due to all the additional headaches and liability.We second contacting PadSplit.