They apply, but you are just subject to gift tax at that point, which does not actually result in a tax bill for you, but a reduction in your total giftable allowance which is ~13M dollars. 

@Eric S. new britain. that is your answer. i invest there. i spent my whole life in CT besides the last few years. i know the area well. i own a few multi-family properties there currently. i went CCSU in new britain and lived in the town for 10 years. its an incredible source of cash flow and, in my opinion, the current mayor is doing all the right things. i actually see growth happening in that town, compared to the rest of CT that is struggling. happy to help in any way i can. just let me know!

Do not put rental properties in an S Corp.Generally, you should have an S Corp for flips, property management operations, commissions and any other activities that generate ordinary income.Passive investments should be held in pass-through entities like partnerships.I'm not an accountant, but I have clients and personally had to pay taxes to move long-term holds out of S Corps just to change title (e.g. for refinancing).

I wouldn't fire the agent just because the property hasn't sold yet.

I'm happy to take a look at this for you - just DM me. 

On the one hand, the mentor courses / boot camps / common advice (including many here on BP) is to just set up an LLC but when I've discussed it with professionals, they argue against it.

Just let that engine continue to work. 

The key is not just to survive those moments but to use them as opportunities to grow.

Just drop it.

Section 8 is not a great option for first-time landlords just because it requires more upkeep and working with the municipality.