However, it would provide us with the necessary funds for the repairs and potentially a down payment on another property.

I can provide you with an REI approach that we use in to get you started.

Previously I had my head in a different direction and now I would like to start learning how to do these activities to provide a better life for my wife and daughter.

Happy to provide a market analysis on your units to see what you should be getting for them. 

this is done when your accountant files the form 8824 which transfers the basis of the old property into the new property. 

You did a good job of explaining your situation, but I would think I would have more questions before providing any firm advice. 

Thank you for your assistance in this difficult time.Best regards, Marco & Christine PadillaIt would be helpful if you could provide some details.

I reached out to my attorney to contact the previous owner to provide them.

Our belief is to provide the info and le the investor make the decision.

You will also provide your "client" with a statement that shows the rental income the property received along with the associated expenses you paid before sweeping the money over.The Operating account of the Mgmt fee now has Property Management Revenue.