What can I do to the existing structure physically or in a contract to reduce liability?

An annual election is not a change in method of accounting.

Have a question concerning a deal structure and vale of a fourplex I am looking at.  

Be very careful when you are trying to structure things purely for tax avoidance.If you add your son to the title, you made a taxable gift to him. 

Not a huge deal, but it's extra paperwork.Just in case you're thinking of breaking it up into smaller transactions to avoid the paperwork, you should know that that's a federal crime called "structuring", so unless you want your cash seized under the civil forfeiture laws, don't do it.Western Union used to allow agents to print out checks in lieu of paying out cash, but as far as I know, that ended about 5 years ago. 

My unit was repaired three years ago, had to jack up the floor above to replace structural beams that rotted.  

Has it been through loopnet, working with an agent, direct mail, or some other method?

IF you know the the existing sheeting is plank, then you know its an old structure.

I would probably need to speak with them directly on how to structure this, including creating a company. 

Have a question concerning a deal structure and vale of a fourplex I am looking at.