For this they get a big fat DO NOT RECOMMEND 

Additionally, confirm the transfer won’t lead to property reassessment, which could increase taxes.

All this makes for great guest reviews and helps increase revenues. 

Hey Steven,I’d recommend reaching out to your county assessor to inquire about the increase.

@Jordan Meltzer unless you find a screaming deal - a Class A property won't cashflow for 3-5 years.Class B: 1-3 years.Class C: most investors don't properly understand the risks, so should stay away from them.So, you may need to deal with negative cashflow, but plan on appreciation increasing your wealth.

If dipping into your emergency fund makes you uneasy, you might consider waiting a bit longer to build it up or look for ways to increase your cash flow on the current property.

Repairs made while the property is your primary residence are not deductible, but improvements can increase your cost basis, reducing future capital gains tax when you sell.

Value and rents should eventually increase to turn cashflow positive and build your wealth.You're next learning experience will be, now that you are out of day-to-day management, how will you be able to handle the inevitable expense challenges?

Keep in mind, adding "cute", and upgrading things won't increase your rent or ARV past what the market in that area will tell you is the max. 

He tells you to pay him $5,000 (or much more) to learn all the "secrets" that made him wealth, but then he doesn't tell you that his "secret" was to increase earnings, reduce expenses, save up and invest.