I’m in the 33% tax bracket through my real job and this could be a big difference in taxes owed if we sold the property?

Baselane has the added advantage of synching with your Schedule E you'll use at tax time to file your taxes.

@Tyler Speelman, A 1031 exchange solves the tax issue. 

It is how it is recognized, taxed and falls heavy on the VOE. 

What are the tax ramifications of a sale, if any?

During escrow converted it to a Roth and paid the taxes.

Joint tax return?  

You also don't have to pay state tax on income. 

The BEST method for real estate investing is very simple: increase earnings, reduce expenditures, save, and invest from your own funds.You should focus on increasing earnings and learning how to manage your budget.

Focus on tax-saving strategies such as cost segregation studies and bonus depreciation to accelerate deductions.By qualifying as a Real Estate Professional (spending 750+ hours annually and materially participating), you can offset your wife’s S-Corp income with real estate losses, reducing your tax liability.