If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Use tax benefits like depreciation, repair deductions, and tax-free refinance proceeds to offset income, and consider an LLC for liability protection.

Is $107k your true net, or do you have any other expenses (mortgage, taxes, lodging taxes and fees, insurance, utilities, landscaping, WiFi, etc.)?

At least now your tax basis is $220k ;-)  What was the extent of the repairs?

Post Dodd Frank sellers have continued the same bad practice of selling houses to occupants with financing at selling prices that are way high, can't be justified via any type of 3rd party valuation (appraisal, zestimate, tax value, even recent sales in the same area).   

I'm looking for referrals for a custodian, tax attorney, and a CPA to set one up and advise me.

This is day to day spending, rent collection, tax/utility payments etc. (1) account for all security deposits, (1) account for parachute fund, capex items etc.

Any tips for navigating the competition in such a hot market?

https://www.biggerpockets.com/forums/51-tax-legal-issues-con...

If you do place the property in her name, you've got a Gift Tax (Form 709) to complete.