They are both listed on title of the property and my wife has been using it and paying primary residence taxes on it. 

Once again, we find another recession indicator flashing red.Given the multitude of economic crosscurrents, it’s crucial to seek the best assistance available to mitigate taxes, and manage expenses to navigate through potentially turbulent times. 

A staggering 86% of households earning under $25K spend over half their income on rent, highlighting the acute affordability crisis.Urgent calls for policy intervention, including incentives for housing production like the potential reintroduction of the 421-a tax abatement, are echoing through the city as leaders grapple with the severity of the housing shortage.

No personal income docs or taxes needed.

If you are looking to use your W-2 and tax returns to qualify, you would be using a conventional loan, which typically don't allow LLC vesting (unless you transfer the deed later).

So, it will be taxed as ordinary income. 

My lawyer  needs advice from someone more versed in the tax law.

I see you posted Sanford/Lake Mary...are you only interested in those areas for your investments?

Pittsburgh is very affordable and the taxes are low outside of Allegheny County.

My understanding is that the $480K qualifies for 1031 treatment and tax deferral.