Short answer: No, you don't need to (or likely want to) transfer the deed to an LLC before selling. 

It ultimately boils down to what you can tolerate in the short and long term if you choose to hold onto the property.However, if you do end up selling the property, a 1031 exchange will allow you to defer all of the tax from any gain and the recapture of depreciation on the property. 6 years of depreciation will not be huge.

House hacking can make that free/less.

The energy in the market is shifting, and we are anticipating that the January data reports, which will be released shortly, will reflect this momentum.The chart below shows the annual cycle of decreasing inventory in Q1 every year for the past 5 years.

Despite the previous owner raising rents last month, she is still falling short by $5,000 each month.

Please feel free to reach out and discuss your situation and see if this may be a good fit for you and your family. 

Short-Term vs.

However, there are other loans designed for fixer uppers referred to us hard money loans, bridge loans, or fix and flip loans but whatever you want to call them they're essentially short term, interest only loans with no prepayment penalties designed to finance a higher % of your purchase price and typically all of your renovations not to exceed a certain % of the ARV (typically 75% max). 

As an owner of several short-term rental properties, when my guests have an issue at one of my properties, I do everything I can to make it right.

However, if you choose to stay there for a bit and sell you'll get the first $500K of profit tax-free if you've lived in it for at least 2 out of the 5 years prior to sale.