Although that money would be tax free it puts you in a tougher position down the road and you may even have to do a cash in refinance depending what your property appraises for.

Can she qualify as a real estate professional under IRS rule to reduce tax burden on my W2 income? 

U will want to check on your liability here.. 

Will we lose the primary residence capital gains tax advantage if we transfer the deed into an LLC?

Using a 1031 Exchange we were able to defer capital gains taxes and upgrade to the VRC.

From favorable lending rates to tax benefits for homeowners, these policies are designed to encourage buying and selling activities.

Managing multiple properties does come with its own set of challenges, like juggling different maintenance issues, taxes, and possibly even varying market conditions if they're not all in the same area.Here's where your financial goals come into play: Are you looking for a more hands-on investment with potentially higher cash flow from the get-go?

My tax records aren't showing a zoning and neither is my MLS Advantage. 

Try looking at it a slightly different way with some quick math:$900,000 sales price$22,500 cost of purchase (appraisal, points, lender fees, title fees, etc - 2.5%)$90,000 cost of sale (10% commissions, closing costs, buyer credits)$64,000 carrying costs (6 months at 10%)$25,000 additional carrying costs (6 months taxes, utilities, HOA, misc)$100,000 rehab cost (the number used above)$68,500 profit = $530,000 max allowable offer.Some numbers may be a bit high, others may be a bit low. 

You will increase the rent and security deposit because of the dog's liability.