Also for older units with wood there is no chance of lead paint which I like too.

Some landlords find themselves in a precarious situation when their rental properties consistently generate losses, leading to financial strain.

So gift the proceeds tax free or put my name on house and sell it?

Maybe get with the bank and see how long it would take to get a HELOC just so you know the lead time.  

Many beginners jump in without a plan leading to mismatched goals and markets.

But as soon as their is a sale of the property - that differential goes away and the property appraiser is free to tax it at it's "just value" - which is usually some percentage below what you paid for it... like 15-20% less than what you paid.  

I am looking to get a LOC against my portfolio of 12 rental properties that are owned free and clear.  

If it's your primary residence, you'll be able to keep any gains tax free if you've lived there 2 of the last 5 years.

Feel free to reach out with any questions about flipping and wholesaling.

Is it better to constantly reach out to motivated seller leads or have motivated sellers reaching out to me?