I’m excited to learn from everyone here; I’ve already picked up on some priceless tidbits.In the meantime, I have come across a potential investment opportunity on a property that I wouldn’t have time to rehab.  

So, being a passive limited partner (LP) might align better with your situation, saving you from potential liability coming from the investment or asset. 

Finally, we need a CPA, open to referral.Hi Jess, this may require more information to properly assess but it is possible to treat the transfer of the property and the refinancing cash out amount as a investment (capital contribution) into the business.

What are your thoughts on the state of the market and potential growth opportunities?

It's smarter to know your market and potential buyers before committing to a property.

This can build equity and potentially increase rental income through property appreciation.Another option is to sell one or more properties to free up equity and reduce mortgage debt, which can be useful for reinvesting or diversifying investments.refinancing one or more properties to lower monthly mortgage payments and increase cash flow could also be beneficial, especially if interest rates have decreased.the best course of action depends on the clients financial goals and risk tolerance

Also not sure why anyone would redeem this property as they would then be liable for the 2nd position lien potentially, whereas they could just by it from the first if they sell it free and clear.

Don't hope, speak with an accountant before you get the cost segregation.You don't want to spend thousands on a cost segregation that may potentially not help you.Best of luck.

I currently don't have any bills, so being a real estate agent and making deals could potentially help build capital.

I am actually looking at potential house hacks in my area but I guess I’m kind of picky that if I did go that route I would eventually want it to be my family home in the future so I wouldn’t just pick any house to do that.