Addressing that now while it's empty will definitely save you headaches in the future.

If you leave the property in your own name anything in your name is at risk, including your personal residence, savings, and future income.

If you can afford the time, it may be worth the tax savings.

Saving is great - just make sure you are not saving in one area to overpay in another (your time)

I did not mean that Section 8 should be treated differently, I added that info in case there was some regulation that I am not aware of that may change people's thought process. 

Sometimes the risk (self-install) outweighs the reward (saving money) especially if there is an unknown factor with the tenants ability to do the install. 

Thanks Dan, appreciate the info! 

I have considered taking over his cash out refi because i heard it mentioned one time before but i cant find any info on how to do this. 

Can anyone help me with some info, please?

With just a bit of reading you will be way more informed than any non real estate focused accountant.2 - Get a free Cost Seg feasibility analysis for your property.Armed with the info from those steps you'll be able to make informed decisions about how to move forward.