To trigger this exception, you must meet three criteria:You must sell your entire interest in the underlying passive activityYou must trigger a tax event, meaning that you must sell your interest for value in a fully taxable transactionAnd you must sell your interest to an unrelated third party, no family or close affiliates.Source Link

Consequently, by holding the notes we have 'EXITED' passive rental income in lieu of quasi passive income RE annuities.At this stage of our lives it's interesting to meet others socially who are now trying to justify their unenviable EXIT from the W-2 world.

I was doing some research but wasn't coming back with anything form a legal stand point.

My name is Corinna and I’m looking to meet another WOMAN/WOMEN in Cecil County who are seriously interested in getting into real estate investing THIS YEAR.

If I want to terminate the lease what is the legal process for doing so? 

Cleaning, restocking, rebuying broken furniture, hanging up new art, meeting with a general contractor, etc. your kids will be expecting the beach, and yet you will be hanging up wall art. 

This year a change of STR regulations resulted in my 24 year legal STR being banned.   

Quote from @Mark Gerlach: I'm not an expert, but I don't believe this is legal if you are a member of the LLC.

I'd be happy to connect with you and even meet you at the property to go into more detail with this scenario.

Would have liked to check out this Vrbo mastermind meeting too!