We definitely will approach it with the standpoint of needing a team in place and not DIY-ing our way through it.

That is why I mentioned to the OP that his transaction could be facilitated through a merger/structuring :)

Here is my property management website, you can run a free analysis through this.

There is a lot to the processNote I am not an agent (nor would I want to be one), but there are times when you absolutely should use an experienced person to handle one of by largest financial transactions you will go through in your life

I originally got his number through a friend who referred him to me.

In your case you have a lot of losses in the time you own the property but these losses transfer through to your personal tax return, so you can recover some of it and not have to count the full nominal amount.

Today is my first day at bigger pockets and I was going through some posts and I felt so connected with many of the experiences as an owner, and investor in many different levels.  

It is also expensive to keep going through the tolls just to get there, and the tolls are going up.

From reading through, it seems you may not be ready to jump into investing quite yet.

I will continue to be transparent with the agents and go through the process according to the law update.We are working on all the backend processes, 2023 taxes, you know the flow.. and hope timing works in our favor.