My advice would be to take the time to vet the right PM company because that will be the difference between profit or loss. 

First, it could help you qualify as a real estate professional (REP), or at least make it easier to qualify, which would allow you to offset passive losses from your rental properties against your active income.

Sources for insurance and property taxes: Insurance - ValuePenguin, State Property Tax Rates - Rocket Mortgage.Low risk of natural disaster: Natural disasters can devastate your property and the surrounding community, leading to job losses and the closure of shops and businesses.

The probabilities of heavy losses due to default are much, much higher with 2nds than with firsts.

Still a loss though... 

(you do not pay the taxes you lose the house, and you do not pay the insurance the lender will put insurance on the property for you)  Assuming the properties are showing up on your tax returns the income/loss will be calculated from the returns using this form:  https://content.enactmi.com/documents/calculators/Form1038.C...The form will allow you to add back your paper loss of deprecation on your returns as well as your property tax, insurance and mortgage interest deduction as those last three are already taking into account into your payment as mentioned in the first paragraph.

If you have each been declaring 50% of the gain/loss from each property then you would each be the "tax payer" for 50% of each of the properties. 

There are companies that can do this for you.Having the property in your name will not stop you from taking a loss on your taxes, you don't need to move it to an LLC to accomplish that.

You don't get to choose who claims the property based on who makes more money.Third, here comes the bad news: you cannot generate tax losses from renting rooms out of your own (or your daughter's) residence.

., such as the ability to offset W-2 income with rental losses using accelerated depreciation, but I’m unsure if the same strategies apply when dealing with foreign properties.