Nice to see a retiree on here for a change!

To get technical, you will be going up against the Economic Substance Doctrine which states that a transaction has economic substance if: (1) the transaction changes in a meaningful way (apart from Federal income tax effects) the taxpayer’s economic position; and (2) the taxpayer has a substantial purpose (apart from Federal income tax effects) for entering into such transaction.By transferring your primary residence into a LLC, you would not be changing your economic position.

Also, next economic downturn and you can expect some very serious, very major changes in the TX higher education landscape.

If I lived in an apartment in Queens in New York City or in half a duplex in Pacifica, California, would I have a few thousand bucks invested in tools to fix houses and spend my day like today, where I worked on refinishing the oak strip floor of a bedroom and took a break to go to a tenant's house to change out a showerhead?

So if the average is 95% I’d underwrite to 93%-94% (physical...economic is another story entirely).As to your second question—resident profile changes are a painful process.

Austin TX had a problem with Stealth dorms and changed the limit from 6 to 4 in some downtown areas, and also San Diego had a problem with mini dorms and so you have apply to have 6 or more adults 18 and over in a SFR, and prove you have adequate parking. 

You personally signed for the obligation and that doesn’t change with a change in title

paying recapture is the most NON talked about event on BP or in real estate.. and why when folks talk about buying for only cash flow and appreciation IE speculation or gambling those folks totally miss the point and do not have a full picture of the Lifecyle of a real estate investment.. if you have NO appreciation your recapture tax is going to eat into your IRR in a negative manner.and for a lot of folks to 1031 one little house with 20k coming out of it is hard to do.. since the house never went up.. the other thing is people that say they are buy and hold forever.. this rarely happens.. life happens life changes.. and so 7 to 10 years down the track MOST folks unless they have decided to make it their lifes work IE be a full time professional landlord.. they sell .and then that pesky recapture they never knew about or thought about bites them .. :) 

I can tell you most people that bought since 2018 are likely regreting now, because today price is lower than Jan/Feb/mar already...And RE is not like stock, that changes direction every day....

I used to have good luck with Craigslist, but the feel of it seems to have changed over time.