I don't know your full situation, but you'll likely pay cap gains tax and have to recapture depreciation.

Posts like these  may help  https://www.biggerpockets.com/forums/86/topics/7998-tennesse...

Quick and Full loan application online (Ease of use for borrowers)2. 

Marty you've mentioned many times over reading through your posts that you tend to contact an owner within 30days of an auction on the home and I'm not sure how to find this information from my NOD list I've acquired.

Thank you for the tip.

Whether you want to start with rental arbitrage or co-hosting, the number one tip I have is do all the networking you can.

Quote from @Nathan Gormley: There's too much to explain in a single post.

Since I posted, I purchased shares in another property (this one is a STR in Nashville, TN).

Me as the Managing Partner shall have full and sole authority and responsibility for managing and operating the business of buying, flipping, and renting of real estate properties.He as the Silent Partner shall not participate in the day-to-day management or decision-making of the business of buying, flipping, and renting of real estate properties.My question is, when establishing my LLC to buy the property do I have to add him as a member of the LLC in the certificate of formation?

We have had tenants pay a full year rent many times and with good reason.