I am new and I am checking in to see who is local to Albuquerque or in New Mexico and wants to meet up for coffee to talk about investing and goals! Lets go! 

You should consult an attorney or CPA for your specific situation.ANONYMITY: When you create the LLC, your name is recorded on the documents and published on the Secretary of State's website for all to see.

They will try to partner up with some CPA from BP and market to BP members.

A Title Company can distribute the proceeds based on the agreement, and consulting a CPA will help calculate tax liabilities and explore strategies like a 1031 exchange to minimize taxes.

Originally posted by Tony Bc: We (husband and wife filing jointly) are looking for a CPA.

It would be wise to ask your CPA the capital gains exposure once this strategy is being executed.

Your property manager should be supplying monthly reports and year end PnL reports that you give directly to your CPA. 

This is most of the depreciation you are taking year one.You can calculate your depreciation recapture by taking the sale price of the asset and subtracting the adjusted cost basis.The adjusted cost basis is what you paid for the asset plus any improvements you made along the way minus the depreciation you took along the way.The profit above this original cost is taxed as a capital gain, but the part linked to depreciation is taxed at a maximum rate of 25% under the unrecaptured gains of section 1250.To recap the tax rates are:- Sec. 1250 real property: 25%- Sec. 1245 property and 15 year 1250 property: Ordinary Tax RatesThere are ways to minimize depreciation recapture especially if you know how to work smart with your CPA.1) Asset Valuation at Time of Sale - Sellers can minimize recapture by reallocating the price of the assets on sale.

Check with your CPA if cost seg makes sense before proceedingRISK - If the IRS disallows your cost seg, the risk will be the taxes previously due and any penalties. 

Have you discussed the strategy with your CPA?