That's not including tax benefits.

Pays for my prime resident taxes, and living expenses.

Is the other heir willing to receive their 50% after selling costs (commissions/title/tax/etc)?

However now that my closing date was officially around the corner the underwriter began doing their thing and came back with a past tax bill that needed to be paid before closing and that was it.

It's on the far NW side and has inventory in that price range, but consider that taxes are relatively high in Elgin VS most suburbs.   

In that case an LLC gives you a massive amount of liability protection. 

Oklahoma may require you to file a state tax return regardless of your income level.

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Tax Benefits: Florida has no state income tax, making it an attractive location for investors seeking to minimize tax burdens.5.

Well damn, clearly I need better guidance on tax planning... what are some ways to tap into those losses aside from selling?