4.Tips to avoid similar issues in the future?

As a matter of fact, you might be losing future depreciation by accelerating it now. 

However, for future purchases as investments or otherwise, as a Realtor, I never take a commission on my purchases.For one, I don't want to pay taxes on it or split it with my brokerage. 

Originally from Africa, I’ve embraced new opportunities to build a better future, and real estate is at the core of my financial freedom plan. 

If interested, DM me and I can connect you to the organizers so that you are aware of future meetups.

Having a co-signer doesn't feel like that at first, but you can't predict the future.

Selling at FMV avoids the gift tax but provides your child with a higher tax basis, reducing their future capital gains liability.A better strategy for selling below FMV is to sell the house at FMV on an installment note, then forgive interest and principal annually up to the gift tax exclusion amount.

If you sell, you could access the equity you’ve built and put it toward other investments or save for a future down payment.

My ultimate goal is to become successful with my real estate investments so I don’t have to rely so much on my job and be able to spend more time at home with my soon to be wife and future children.

Hello Mason.I am looking to invest in the Knoxville area in the near future and would be interested in any recommendations you may have.