ACH is freeTakes about 5-7 days for the funds to hit your bank accountExcelI use an excel spreadsheet to track my check register.

It would be the same thing with cosigned mortgages, or anything else where you're each jointly AND individually fully obligated for the full amount.

Currently we own the property through a shared, two member LLC.In doing some online research I’ve read 1031 exchanging in this situation is limited due to the property being owned by the joint LLC.My understanding is the only option here is for us to jointly 1031 into another property with the same LLC (I am unable to take my portion of the sale and 1031 myself because of the LLC).Are there any other options here for me?

Hey @Alex F chang, I do recommend using Individual or Joint Taxable accounts as a great place to hold property reserves and cash flow, as well as personal reserves and funds for future down payments.

So with just that, and generally speaking, I would personally sell and put the money into a better investment for long term where you can mitigate some risks and make up your own rules, not be governed by an HOA or management company.Your other HUGE benefit to selling is the fact that you have lived there for the last 2 years which means you qualify for a capital gains tax exemption of $250k ($500k if filing jointly with wife) and would not have to go through the difficult process of a 1031 to avoid taxation on your gain.

It: Collects our rent for no additional fees to us (ACH transactions are free, and tenants can opt to pay with credit card for an additional fee they pay).  

Joint Venture Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No have not heard of this; I can't imagine the accounting head ache if SSA actually offered that.

One huge advantage to long term flips is that if you live in the home for 2 of the previous 5 years, you get a $250k income tax exclusion ($500k for married couples filing jointly) which legally avoids the tax man, the downside is that you can only do that once every two years so your other flips will have the profits taxed at your marginal tax rate.

This means that all the activity of the property is reported on you and your wife's joint tax return anyway.