Fernando,Sounds like your mentor might be correct in selling both properties.

If you are reporting it on a schedule E (you are not taxed as a corporation or as a partnership in non-community property states) then no, there is nowhere on your tax return that shows your cost basis and your tax preparer likely doesn't know. 

Like Jay, I'm struggling to understand the details.You have a bridge loan... for what amount?

Cities like Minneapolis, Boston, and Atlanta are showing how public parks can do more than provide green space—they can drive commercial development and job growth.

This sounds like a thought out plan. 

This time I am comfortable enough with the business to look at markets away from home, and I think the better yields, less expensive properties, and better market outlooks will be worth the money that a turnkey company will cost.I heard about Norada a lot back when I was more active in BP, and I remember thinking they sounded pretty good, but looking into them now, it sounds like they are not actually a turnkey company.

I drove through some community and like a after war field. 

Looks like I read you vacation in the lakes region?

Was wondering other stuff like property management expense like getting a handyman to fix something or roof changes etc, assuming they are a bit more.

If she really likes the place so much, then invite her to re apply.