@Jasraj SinghThe concept of the BRRRR method or a flip is to buy at a discount, rehab the unit/building and force the appreciation.  

Looking forward to working with a lender soon to refinance the home, following the BRRRR method.

I'm sure someone will chime in with links to all the useful spots on the site, but my favorite parts of the website are the calculators. 

Read The Millionaire Next Doorhttps://www.amazon.com/Thomas-J-Stanley/e/B000APC2MY/ref=dp_byline_cont_book_1How to Finance any property https://www.amazon.com/gp/product/0757001351My favorite way is to go to REIA MeetingsSee https://www.biggerpockets.com/rei/real-estate-clubs/Ask the organizer if you can make a 30 second commercialSay "I am looking for 2 - 3 private investors, I pay 9% in 90 days, I do rehabs, you get Real Estate Security with a note, you get 9 x 4 or 36% return, and you can use your IRA money! 

Or what would be the best method to go about this?  

The transfer was executed through a notarized grant deed and legal description.My quick review of the California real property law regarding the supplemental assessment is that a "change of ownership" should not trigger a reassessment if the transfer only changes the method of holding the title.I will contact my local Assessor's office to obtain more details and see if I can straighten this out.

You may want to backtrack your tax returns such as going back to the schedule E and 4562's filed.You may need to file a change in accounting method...

I know there are a couple different ways to use the rental income ($1,750) from the two tenants each month, but I am having a hard time deciding which method would be the most beneficial for me and my long-term RE plans.

I know there are a couple different ways to use the rental income ($1,750) from the two tenants each month, but I am having a hard time deciding which method would be the most beneficial for me and my long-term RE plans.

I paid off ALL my debt by following the Dave Ramsey method.