Recognize, analyize, plan, execute.

The remaining sibling changed the LLC to a Single Member LLC and owns the property 100%.I sat down with my CPA during the summer and went over Capital Contributed (this includes Cash Contributions, my share of Land/Building Value and Depreciation); Income Recognized, Distributions, Losses Recognized and a Capital Bal at 12/31/10.

Real also recognizes real, so to speak.

Not sure this would work for you since you recognize that your purchase was below market value. 

If this argument would hold up, the installment method would not qualify and the seller is at risk of having to recognize the entire $50,000 gain up front even though he won't receive payment of the purchase price in the first year.

The symptoms, pain, swelling, over weight, cancer, diabetes, high blood pressure, heart problems, and others are merely symptoms much like smoke detectors in your house letting you know that there is an “underlining problem” which needs to be recognized and dealt with.

I have multiple tenants sending me the rent so my bank put their name on the description which make its it easy to recognize.

Filing for the EIN number doesn't recognize husband and wife you are partners in this respect. 

Now, even if you find a place like that, you still might have to go through the process of getting the city of Denver to recognize the property as a proper duplex if you wanted to legally rent both spaces after you left.

., I think I recognize you from some meetup events in DFW.