Giving up $100k+,in tax free income.

When it's sold it will be taxed as capital gains tax and may also have some unrecaptured depreciation which is capped at 25% and  recaptured depreciation as well which can be up to your ordinary income tax rate.

If they didn’t have replacement cost, what should they do to capture value and get a loss writeoff?

It doesn't seem like the WSJ released tax guides for 2024 or 2025?

Net investment income tax= 3.8%I was aware of the Long term capital gains tax, but I was surprised to find out about the Depreciation Recapture and the Net investment income tax. 

@Zhenyang JinIf your LLC includes you and your business partner, yes you should file a 1065 partnership tax return.

Inheriting it is the best option tax wise- because it gives you a step up in basis to the property's value on that date. 

GEt some Credit Cards, spend a little every month and pay off, then get higher limits and repeat.

I have a capital gain taxes question:if I sell my home for 510k and provide the seller 10k seller credit towards escrow costs, would I be paying capital gains taxes in California for that additional 10k?

Your not correct under many different circumstances.First property tax is 1.1% (fairly safe) with 2% annual increase (prop 13).Next expenses include a lot more than property tax and interest.