You can sell and pull out your equity and use it to purchase investment properties.Make sure you apply to get your VA loan benefits reinstated.

You will know where to spend your money for maximum benefit.

[And, I guess the show itself makes plenty].Can you afford to not make a profit, just for the experience and community benefit?

Decide how much money you have access to, & the zip codes, city or state you want to focus on.

Michael and Thomas mentioned some of the benefits/ drawbacks of inherited tenants/ some of  the things to be careful when in such a situation.One way to know what your property might rent out for is checking local rental listings on Craigslist, apartment.com and other such websites.Good luck and keep asking your questions on BP!

I don’t want to disrupt this exchange of money by being legalistic, I Just thought there is a way to transfer the property into a legal entity and start to take advantage of those tax benefits!

When you structure a contract that passes enough of the risks and benefits of ownership to the other party the IRS can deem that a sale happened even if there was not actual change of title. 

Will the capital improvement benefit the entire building as a whole? 

I've looked up the sq. ft. requirements for the RM-2 zone and the planning code says you can have 3 or more units on the lot, as long as there is 2,500 Sq Ft of lot area per unit. 

I see you are from Illinois and here is a link to their state website explaining that the property tax exemption is only on the primary residence:https://www2.illinois.gov/veterans/benefits/pages/real-estate.aspxHere is a breakdown of these laws by state:https://www.hadit.com/disabled-veterans-property-tax-exemptions-state/Thank you sincerely for your service to our country!