Taxes: Be aware of potential transfer or capital gains taxes, depending on your state.4.

Have any idea about Gift tax in NY?

Are there any Depreciation recapture or capital gain Tax dispositions that need to be resolved with the exiting member?

@Armell MayersBigger Pockets is a great place to find a real estate tax accountant.

Areas near oil production hubs could experience economic booms, creating localized opportunities for real estate investments.Beyond these broader economic initiatives, Bessent has been vocal about extending or even expanding the 2017 Tax Cuts and Jobs Act (TCJA).

You’ll have 45 days from your sale to identify them and you’ll have to buy enough of them, and only them, within 180 days of your sale to meet your 1.1M requirement, or face taxes.

I didn’t see your location in your profile or your post, but assume at least 17% state/federal taxes leaves you with $10k/yr. 

My payment with insurance & taxes is $1425 a month.

There are some programs through local government systems where you may be able to receive a tax abatement or grant here in Michigan in an effort to help beautify a neighborhood.

Will the title company put this property under our LLC name, and won’t be required to legally inform HUD/tax authorities. - will it influence property taxes once we move to conventional loan in 3 yrs?