This approach simplifies the sale and avoids unnecessary legal or tax complications.If she want to share the proceeds and tax obligation in a technical way, she need to file a partnership return for this property.This post does not create a CPA-Client relationship.

If you want to get a clue about places to avoid investing look at states where insurance premiums have jumped or where homes are uninsurable. 

Both allow you to avoid touching retirement funds while leveraging the value of your properties.

I have up on tracking on Hemlane… Stessa is 100x greater for this aspect.

Pro - I avoid any future repair expense.

This will also allow you to avoid taxes on the sale.

@Brice Alef-Torrisi putting each property in its own LLC is usually overkill.Getting a bank account for each LLC is typically something you need to do to avoid "piercing of the LLC corporate veil" (actually depends on tax selection you made for LLC), but is also overkill.You haven't indicated how you are holding the deed for the latest property.If in your name or same LLC, you don't need a separate bank account.If in separate LLC, you can create a Master LLC, have each property LLC hire the Master LLC to manage their affairs, and just get a bank account for Master LLC.This is an opinion, not advice, so lookup CPA Frank Alcini in Troy for expert advice.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

It might be worth a follow-up closer to the move-out date to confirm their plans, but avoid excessive contact to prevent escalation.

A sub-to calculator showing how much cash a seller can avoid bringing to closing.