The IRS has specific provisions that allow you to follow the decree at no loss of your rights.A revocable family (living) trust is really a disregarded entity (it was even before your divorce).

I expect my insurance company to just turn around and raise my premiums,to recoup this loss - even though I have never filed a claim in the 16 years I've owned this house.  

Can an S Corp generating a loss cancel out W2 income?

I'm at a loss as to how to proceed in this regard, and any help from experienced flippers in NJ would be greatly appreciated.Thanks!

Added to your gross income if you don't have enough depreciation & deductions to show a loss on your property schedule. 

By the time you pay all the fees and taxes and don't forget all the losses the person that invested their money in the Indexed universal life policy will have more money for retirement then the person with the same amount in the 401k.

On the 4 plex, we paid $295K in early 2016, and focused on lease loss as the primary value add.  

-Like you said, better cap rates, at least on paper.Cons:-I remember reading about IBM shutting down, which probably meant the loss of a lot of jobs.

If I include the income statement it shows the property at a loss because depreciation is factored in.  

If you refinance and pull out cash, your profit will go down, lets say it goes to $300/mo after refinance, then it's 16 months to recoup the losses above.So, my advice, save 12 months of management, vacancy and repairs (~10K), then think about refinancing.