There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

The actual mechanism for moving the LLC would be best to consult an attorney or tax professional.

You know a similar thing happened in Kansas City (more specifically Jackson County, MO) regarding property taxes in 2023.

The teacher was an actual financial educator but they repeated themselves a lot and were telling the students to go in and apply for credit cards DURING the course to purchase the next course for $15,000!

Maintenance and potential repairs will also require a long-term financial plan and setting aside a contingency fund for such expenses.The steady cash flow, appreciation over time, and tax benefits can make a meaningful difference to your wealth in the long term, especially with the principal paydown on the mortgage.However, if managing the property from a distance feels too burdensome, or if you’d prefer the certainty and flexibility that comes with having less debt (especially given the high mortgage rates), selling and using the $100,000 in equity to reduce your loan for your next home may be the smarter move.

Anyone over 18 fills out has to furnish their social security and driver's license numbers, and pays a fee for a credit / background check.

Work with a lot of expats and foreign nationals in this space tax related.

PLus after the 10 year tax abatement the cash flow will be severly impacted2.

If your asset is older and/or smaller, you may have better luck with local community banks or credit unions.

They would get that $500K tax free and the rest of the tax would be deferred in the 1031.A very elegant solution that puts $500K tax free in their hands now.