You could quit claim it over later but then you are getting into legal which I can’t advise you on.

I have never claim for capital gain tax exemption in the past.Thanks all!

I just read an article about how NY is proposing a CANCELATION of rent.I also listened to a couple of podcasts from some of my favorite and most respected business idols claiming that we are on the verge of a major DEPRESSION...I too have my own theories about the totally wrecked balance sheets, the terrifying overleveraging as in relation to income, and P/E ratios that are out of control of many of the world's leading corporations...not to mention why so many of the world's leading CEO's just stepped down in the last 6 months (google it) Given those facts, we may just be on the verge of a depression. 

I understand that the reason for this is to minimize any risk of being sued etc. in other words, if someone broke their ankle on a particular property and they decide to sue, if the property is set up as is own LLC the plaintiff makes a claim against only that property.

Question:Is it ok if i continue with the refinance and leave the home as a primary BUT still be able to claim it as rental property and get tax deductions? 

Here is a really interesting one I had some years ago: I renovated a 950sqf 2/1 shotgun home that was in a few blocks that belonged (was claimed) by 2 adjoining neighborhoods. 1) Grant Park, full of 1800sqf and larger homes, selling for 300-400K then2) Cabbagetown full of small 2/1 900-1000sqf shotgun homes, selling for 280-290kI had an extra lot and I added an addition of about 500sqf.

I would just encourage everyone on this thread to do some due diligence and explore how other successful and reputable real estate companies/landlords are navigating through this pandemic, and to conduct some research before you start making decisions based on a Biggerpockets post by a guy in plaid shorts claiming he is a real estate "specialist".

We have a big problem with affordable housing and there just is not enough.also what you mentioned, low taxes But on BP I've seen how people claim class A & B are the survivors.

About 18 months ago after not paying for four months, I restructured our agreement and had him sign a quit claim deed that I would file if he were ever more than 30 days late.Fast forward to this month, March 2020.  

He claims the assistant is a 10$ hour job but it's not.