Do you want to be passive (ie give your $ to someone and they pay you interest, or you put the money for the opp and get equity, etc)3.

They will save you time and money. 

Definitely saved a lot of money.

But it’s crucial to double-check NYC’s rental regulations to make sure you’re in the clear.

That’s real money to many people.

Your income isn't high enough for it to make sense as a rental and the closer you get to your residence limit the greater pressure you will have to sell it before losing your exclusion in whole or part. 500k right now can make $15k per year income with zero maintenance or tenant risks. 

@John Reagan Johnson hope you don't mind a PMC answering, but most of our clients hire us because:1) They live out of state and don't have time & expertise to remote manage2) They don't have the time to manage3) They don't feel they have the necessary expertise and/or don't want to risk learning as they go and making an expensive mistake.Go read Kiosaki's Cash Flow Quadrant book.

Real estate is easy to get into, but hard to earn a living. 87% of all agents quit within two years because they don't make enough money.

You will need to justify the sale price of those assets to the new owner at their then current value on your books.It is a big hassle to do this, but it can make you a lot of money if you do it right and are careful in your record keeping.

If you're pretty smart with this stuff, I think can definitely make sense for you two to talk with a tax planner.