.), and a wonderful supermarket that is close by and walkable (2-3 blocks away).The reviews are excellent, and we are currently superhosts.

I'm thinking it may be too late in the busy summer season to find and close on a property, so would it be to my advantage to wait until early next spring to purchase?

The banks don't want to give you a low interest rate that might be higher if you closed with an LLC. 

You should ensure the docs are drafted up by an attorney and/or title agent to ensure compliance, as well as the closing. 

To trigger this exception, you must meet three criteria:You must sell your entire interest in the underlying passive activityYou must trigger a tax event, meaning that you must sell your interest for value in a fully taxable transactionAnd you must sell your interest to an unrelated third party, no family or close affiliates.Source Link

Seems like I should offload this property as soon as I can recoup the purchase + real estate fees + closing costs?

T/E informs self of release from obligation to buy; wait for closing/recording and get paid.Am I missing anything?

And any short sale offer will have to be close to market value.Years ago, after the great settlement agreement with the big 5 banks, those banks were making mass offers of discounted pay offs on seconds.

I'm supposed to close on 2 properties this month.one property is a rehab which wants cash. 105k the other property is a investment property. 25% down. 57k plus closing cost of 12k so 69kSo I will need about 175k for both properties. 

Loan amount left is $132,000.If we list it, we can sell at $205k and assuming 8% closing / realtor / concession fees, the revenue would be $188k.