Your rental half is reported on Schedule E. 1/2 of your housing expenses go against the rental (assuming the 2 units are equal size).

Hi all, I am currently looking for the best and less costly way to transfer a deed into my name from a family member.

You should cold e-mail and cold-call professionals at real estate companies in your area to set up informal coffee chats and informational interviews but don't ask for a job and come with a list of questions.

They said there is a 7 year contract on the machines which transfers with house sale. 

From my understanding I need to set up an LLC, and a new Roth IRA account, which I can transfer the funds to my LLC when received.

If the foundation repair has a transferable warranty, then the work on the foundation should be a BONUS, if anything!

I really wanted to make my house to be done soon, so I transferred him $3,000 deposit as part of our agreement - the first payment.

*In general*, equitable title vests immediately upon passing and probate is about transferring legal title (though in TX, intestate heir has to survive 120-hours). 

The IRS is much more concerned with an entity transfer immediately prior to a sale and 1031 than they are with an entity change after a 1031 is complete. 

Leases generally transfer with ownership, so pretty much the only legitimate way to get the tenants out of the lease agreement would be to have the tenants agree to it.