Elizabeth,Sorry I'm not very active on BP, but if you still been help I'm happy to offer whatever assistance that I can.  

It is an older meet up link but these guys are usually active or recently active. 

After a sale the taxable value will be adjusted to match the assessed value.

It features the AC Aquarium, great views of both bay and sea, fishing, charter boats and other activities.

@John Franczyk on the tax front, there is no expense you cant write off, or business tax benefit that cant be taken weather you are an LLC or a sole proprietor historically, its all pass through anyway, for example if you have a HELOC on your personal home, and use the money for business purposes, the interest and expenses are deductible as a  business expense. at the end of the day it makes no difference, unless you are avoiding  SE and filing as an S-Corp, but thats for active income, not passive.

Partnerships between a 401(k) and other investors, or plan-held entities that may be used for an activity with UBIT exposure may benefit from alternative elections.

The condo has 9 years left of a 15 year at 3.5% Only costs I see with condo (other than the 23 extra a month) are yearly assessments from HOA, home appliance replacement, AC replacement, and a month here and there searching for a renter.

This means you will likely be actively managing it yourself, or you will have a manager in place that will eat up a large portion of your revenue (payroll expense).

Any active BP members in the Pensacola-FWB-Destin area?

Hey all,Long time reader/listener - first time poster… I figured it was time to step out of the shadows and become an active member on the Bigger Pockets forums.