We’d be selling to a third partner, who would then own 93% of the LLC.Can anyone explain or suggest a reading list to learn about the applicable tax law?

For Medicaid there is a 5 yr lookback on assets/funds - Medicaid can pay for assisted living - however few facilities work with medicaid (or whatever the program is called in your state - in KS it's called HCBS - Home & Community Based Services)  - I'm not fully educated on medicare which kicks in for SNF - skilled nursing facility -- so I do not know the nuances of that -- if there's proof of elder abuse regarding funds I'd guess the local authorities and possibly Medicare/Medicaid could come after the guilty parties.

The hard part is getting there first and seeing the direction of the neighborhood before everyone else.I consider "A" as gated, upper class neighborhoods.

Sometimes people complicate things or want to invest in certain things so it can sound "Sexy" at a cocktail party.  

I would only turn it back to a two bedroom if the second and third bedrooms are really ridiculously small, which it doesn’t sound like they are.Basically, you have to look at the property and walk through it and say what will my potential renters or potential buyers say?

The in-person part is essential. 

While they fit the latter part, I am nervous to violate any laws. 

Assuming they will be compensated - why not switch to a 3rd party manager? 

In addition if the investment is held for 7 years, the taxes on those gains are reduced by 15%, and the best part is that if the investment is held for 10 years then there are no capital gains on the appreciation of that investment. 

That country has been a stable democracy for 40 years with the sema political party in power since 2004 through undisputed elections without any violence. finally, I encourage you to fly to Miami from Panama City.