In his words, this is away around the due on sale clause that you can run into in a sub - to transaction.My question - if the seller puts the property in a trust, will this avoid the potential of a due on sale clause?

Selling your share at fair market value could avoid gift tax but may trigger capital gains tax for you based on the sale price and your cost basis.In California, the transfer may also trigger a property tax reassessment under Proposition 13 unless a specific exemption applies.

I would also share pros and cons of paying taxes on the windfall versus owner carry.

@Marc Shin, Soundproofing is definitely something worth tackling for a short-term rental—it’ll keep your guests happy and help you avoid complaints.

At least now your tax basis is $220k ;-)  What was the extent of the repairs?

That will typically generate a response from the PM to negotiate a settlement and avoid an investigation.

Since you're looking to expand into Florida and other states, I'd recommend starting by narrowing down your focus:Market Research – Florida has great opportunities, but each state and city has different laws, taxes, and demand drivers.

There's no problems living next to your tenants, just tell them your the manager NOT the owner to avoid guilt tripping.You have to analyze the deal 1) while you're living there 2) when you move out.

Too risky for us.Regarding additional guest packages, you can easily change your tax situation by offering what the IRS calls "significant services".

In many places, daycare costs, commuting, office clothes, taxes, meal prep, all take up a working person's full income when you switch to going back to the office.