Hey Sophia,It seems like you’re trying to decide between keeping or selling your rental properties.

Unfortunately, this reassessment is unavoidable, so you’ll need to evaluate whether transferring the property is worth the potential tax increase.If a Transfer Is Not Feasible:If the potential property tax increase makes the transfer impractical, an alternative option is for your father-in-law to secure a Home Equity Line of Credit (HELOC) on the property.

A good indicator is the property tax rate (Rocket Mortgage).

.: My first investment property happens to be my first home purchase, so my questions are hopefully basic for anyone experienced here.

It's an investment property. 

Quote from @Robin Cornacchio: Can you use a 1031 exchange on a SDIRA owned investment property? 

Hello I have a client who needs to do a purchase and rehab loan on a four unit property in New Orleans.

There are several things that come into play with determining if a property sale is capital gains or ordinary income. 

Virtually everyone lives somewhere especially true for those that pay taxes (in CA property and income tax).  

Where is this property and how much is it renting for?