This is truly a fantastic place to connect, learn, and continue growing your real estate knowledge and network.Keep up the momentum, and feel free to reach out if you ever want to share more about your journey or need advice.

However, that won't work for several reasons:  1) The lender is not going to finance the $15k assignment fee2) The lender isn't going to consider the purchase price in this example to be $150k, they would typically use the $135k price in the original contract, and 3) In this particular example they may not even use the $135k price because it's not an arms-length transaction since it ultimately boils down to a deal between you and your father.I applaud you for trying to be creative, but ultimately what you're proposing isn't going to work and it's going to make the transaction a lot more complicated than it needs to be.

I've read a lot of people will buy a property as an STR, put it into service then do a cost seg.

I understanding is the TN has some crazy rules and regulations that complicate this process. 

I have tried to read and research as much as possible along the way, but am discovering that there is a lot I don't know, so I am still learning as I go.  

*This post does not create a CPA-Client relationship.

I only have one rental unit.Hope this helps

Evan,I read the book and attended the seminar. 

Have your heirs repeatMany wealthy families do this over and over again and pay little to no taxes as their RE portfolio continues to grow.

Purchase price: $320,000 Cash invested: $90,000We bought this property off market from a wholesaler what first started out as a partial renovation ended up being a full renovation.