HI Diane,The below with respect to conventional Fannie/Freddie financing - First of all you cannot do a second home with 2 units only 1 unit condo/SFR/PUD etc.

Get those entities established, and start building their credit.Actually, you'll want to build a business entity structure for the best tax advantage, the best asset protection and for estate planning.The foundation of your structure is a revocable trust you set up with yourself as the beneficiary.Then, set up an S-Corp so the money which comes from your properties and deals can come to you using what's known as a salary / dividend split on a 1:2 ratio, respectively.

I know very well from your reputation that you are NOT a game player and I certainly respect that!

They are now worth $1.0M and $1.8M respectively (obviously there was some refinancing and expansion within the last 5 years).  

Respect their time.

Not all residents are comfortable with some breeds of dogs and we want to be respectful of that.

Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.

Dean - I am sorry but I have to respectfully disagree.

As you know, land is not depreciable so your tax benefits going forward should be considered with respect to the allocation of the price because it will effect your bottom line with respect to taxable income.Additionally, ensure that you have the property you are buying titled the same way as the property you are selling because the taxpayer is the one who receives the benefit of the exchange so the selling taxpayer (individual, LLC, Corp) and buying taxpayer need to be the same. 

She is not a good tenant as she  does not respect her lease and I suspect she will get worse unless you speed up her training program.