The recipient inherits your cost basis (what you paid) for calculating capital gains or depreciation.You and your spouse can each gift $17,000/year per recipient under the annual gift tax exclusion ($34,000 total).

Thanks for sharing this perspective—it’s super helpful, and I totally agree that the “perfect BRRRR” is incredibly rare these days.

The successful wholesalers are the ones that are direct with the seller and have done an analysis on the deal to show it can be a successful investment (always double check with your own)totally agree, I would add the don't act sketchy and present their available homes in a consistent/professional manner to buyers. 

The original six month tenant I had extended the lease 9 times and stayed a total of 5 years, paying me about $15k over market rent annually.  

Sorry, I can see offering a discount for a limited time only, after which the price goes up to whatever the full cost is, but NO reputable seller/instructor is going to literally only give you a total of 10 minutes to make your decision.Sixth, depending on the market you are in, and the specific deals you find, $10,000 could be a ridiculously small finder's fee.

Seller and buyer commissions are a total of 6% - $17,340.

For instance if this is a $10M portfolio that's levered with loans totaling $9.1M, there's no equity that can be pulled but if this is a $1M portfolio with $100K of debt, its a different story.

Is your total monthly rent around $12k?

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Totally agree with you on the PR and language.