The basis would transfer over to LLC. this basis would include all the work you had done to the property when you bought 8 years ago if those were capitalizable improvements rather than repairs.  

Depreciation rules for automobiles improved significantly, however I don't think it would apply to you.

I suck at numbers, so I made up some for a hypothetical subject-to deal to sharpen up. Can you experienced investors please critique my work? My hypothetical plan is to take over the loan> get a tenant in> cashf...

I am a graphics designer and put together some stuff to help improve communication, transparency, and trust with my clients through it.

(in which I should be able to write off most from taxes as improvements according to the podcast with @Amanda Han)I am just more lost about whether I should have it gifted to me, sold to me, placed in an LLC, etc.

It's better to wait to improve your credit.

I know it "could" be done, but I have my doubts about the practicality of it-has anyone done this recently?

Never too late to improve your situation!

He did a practice inspection on one of my properties last fall to complete his training and owes me a beer!

I used to do Quality Assurance inspections for energy efficiency improvements in the city and am happy to help.