Going DIY and self-managing this type of asset from another state may not be an easy task for such a building and neighborhood, it needs more attention (and probably capital).Try an unconventional approach.

If the trust is disregarded and you and your wife file a joint tax return the property is reported on your personal joint return. 

For me personally, I am hesitant to sell unless it really makes sense.

I take a methodical and pragmatic work approach. 

To clarify, in MN a person must be a licensed to perform at-charge Property Management services, for others, on a standard commerce basis. 

You will quickly find, as you generate local person-to-person relationships, how many opportunities open up! 

@Ben Callahan, you could find a partner who is looking to buy a similar property, be a co-signer to your partner, and have that person live in it and be a primary resident. 

I have a couple of funding options on the table and I’d love to hear your thoughts:Funding Approach: I have capital partners who are willing to fund 100% of the project in exchange for 50% of the profits.

.- Navigating tricky landlord-tenant relationships when you live on the same property.While some people thrive in this environment, others find it difficult to balance personal space with their role as a landlord.### 3.

I have no personal experience with them but they are the only company I know of that are built more for self managers and small portfolios.