Also, go to the build your team tab to find advisors that can help you with your tax and financial planning.  

I love it when strangers on the internet tell someone that it is a bad idea to take $220k in tax free cash.

Also, it is a tax deduction.

Unfortunately, Oregon has a 9.9% tax rate on capital gains in addition to the federal tax.

I don't know if it's easy to switch as the LLC is newly formed, without any tax/income historyAny other way around re-financing?

Does the fact that she doesn't pay rent pose any tax implications?

@Rollin BuffingtonYou will want to speak to an accountant since, if the current owner of the property and the owners of the LLC are different, taxes might be owed when the property is transferred/sold to the LLC

It has not gone in my favor and is taking up the entire useful part of my lot that I am stuck owning and paying taxes on because it is tied to a mortgage on a MFH that I own.

We would never allow this.What is your tax situation - I don't see anyway you end in a good situation by selling due to depreciation and payback and realtor fees, selling, closing fees etc unless you 1031 into something.

Truthfully I think I'd like to run everything by a tax lawyer to make sure I'm taking advantage of everything I can, but haven't yet.