Assuming you are married gifting each child 36k a year is a wonderful start.   

And on top of that (and to make a long story short) my ex-wife stole more than $800k from me when we split and we are in a nasty child custody case which costs a crap load of money.

I would also call child protective services.

But the gas and water need to stay in our name as landlords (per the water and gas companies), and we will bill those amounts back to the tenants.We have 1 single man who has 1 child who will live with him 1/2 time in the upper level, and we have 1 single woman who has 3 children who will live with her 1/2 time in the lower level.

When we told someone about the possible naming of our child that, they said "Do you mean Eliyahu?"

If the mortgages are 'forgiven' would that create a taxable event (gift) to each child??

Property management is managing it and giving check on the name of property owner who is Child LLCprior cpa was filing taxes under Parent LLc as the child LLc is a pass through entity.

Hi guys,So I have lived in a house, in an expensive neighborhood for 10 years,  my  child grew up there so I am very attached to that house and so is my son.

I am now expecting my second child so it really isn't feasible for me to be in a traditional for several more years.Being a female investor has very different challenges that most men will never experience. 

Wife had no intention of selling the rental house as it is an investment to supplement retirement, eventually being her childs inheritance.  6.