There was an opportunity to help a fellow investor who had his family growing and needed to dispose of the property to get rid of problematic tenant issues, rising taxes, and invest in other opportunities closer to home.

Also make sure your tax basis is reduced as part of the sale since your land is being reduced. 

I was ultimately quoted a price of $10,000 to join the program, which I was encouraged to put on a credit card and ‘write-off on my taxes.’

Never let the tax tail wag the dog.

You should look at any limitations on gift taxes though, and she may actually want to structure it around any of this.

Short term capital gains is your ordinary income tax rate and long-term capital gains where you hold the property a year or longer is considered long-term capital gains is in as taxed a lower rate.  

An accountant would help here, as you can make gifts to family members every year to a certain amount tax-free.Finally, you could simply sign over the dead to your son, if you trust him to pay you back over time.

The seller wants to sell it for $50k but has requested to put it down on paper for $5k, so he can pay less tax; the remaining $45k would just be given under the table. 

At 25% down I’m looking at roughly $2300 for principal, insurance, and taxes per month on a 30 year loan at 7.6%. 

Landlord friendly, low taxes, and major tech and manufacturing job growth coming down the pipeline.