It can increase your basis in the property which affects capital gains, but given you bought another primary with the funds I don't think that applies. 

It was a cost of $0 to enter this transaction their way, and it could have been a cost of $0 to enter it the right way so it was secured (if they even still wanted to do the deal in the first place).  

If done correctly this is a great way to replace damaged item without a cost to the host.

It was explained that they're not running a for-profit since no rent or fees are charged to the patients, the company has a large donation pool that covers operating costs and staff.

I've seen lead remediation costs under $1k and I've also seen them above $40k.

They have all be refinanced, with cash on top, and rents have grown to cover those costs.

I'm curious how much it cost you and what exactly is it???

With the relatively recent addition of the Grove at 192 and Parkway Lofts... there should hopefully be an increase in demand for walkable areas near the train. 

Be aware, though, that if your main goal with putting properties into an LLC is to silo off assets to protect yourself in case of litigation, then you need to also set up new bank accounts for each LLC and run all rents and costs through those accounts.

If a co-singer has a good credit score built up would that increase my chances of getting a loan?