So I would like to hear from some other BP members on this.In particular I am looking for Divorce properties, Gift Transferred (Parent to Child) and Probates with this.

Even if every member of the Zoning Board adores you like their favorite child, they have to apply a very specific standard that's hard to meet.

My mother was an immigrant's child.

During that time, there have been multiple major fires, some with death, one started by a child, others just caused extensive property damage, including one that was started by a campfire that was lit in the livingroom for some "home cooking"; four cars have crashed into buildings, including one that entered the second floor from the street above, and ended up in the first floor; one murder scene; two suicide scenes; half a dozen death by natural cause...some fresh, some very much not; a horrible cat person that actually left the house to live in a second home a half block away, since there were around 27 cats IN the first house that she would feed every day.

Add me to the list of people looking for a CPA. 2018 brought life changes (marriage, child) so I don't feel comfortable going with the TurboTax route this upcoming tax season. 

At the end of the lease, I don't want to get into a discussion about whether the pet caused damage or the tenant's child/guest/whatever caused damage.

Initially bought to save dorm fees sending my first child to college.  

Definitely get a holding LLCs then two child LLCs.

My memory is that we stopped depreciating the side we lived in while we lived there.I'm still with that CPA as are a couple of friends/relatives I referred to the firm and even a now grown-up child who we brought home to that duplex as a baby many years ago....As your real estate interests grow, you'll probably want to  look for a tax professional as will @Craig Curelop's future book readers :-).Good luck!

I will always work to ensure that my properties are held in an LLC, but they will either be held alone in their own (usually brand new) LLC or a child series of a Series LLC.