BP Community, I have spent a lot of time in recent weeks explaining to out of state investors the true nuts and bolts behind managing properties on the south side of Chicago.  

It's good to send a notice in writing explaining this to tenants and encouraging them to purchase their own renter's insurance policy. 

I am in a similar situation where I want to continue to purchase more rentals but am currently looking for a flip to generate more capital towards opening up more buy and hold opportunities.The partnership will be best suited if they both have the same objectives. 

If your CPA has not explained it well enough to you, you may want to talk with a CPA this year and not wait, even if you already filed (you can always amend).  

Explain how the seller financing work for this particular deal.

I don't bother with get-to-know-you meetings, I get to know people when they work with me.For buyers: Here is how it goes for me: My cell phone rings, initial chit chat, I ask buyers what they want, set up a search for them and explain how I do business.

Explain your goal to a professional and they can help you to craft a plan to transfer the asset with the least tax impact or explain the consequences of transferring it all at once.You will run up against gift tax if you transfer the property outright because the FMV of the property is well above the annual gift exemption.If you sell the property and pay long term capital gains and then gift the proceeds to your daughter you still face gift tax.I hope this helps.Ed

Now this is my first round, but everyone I have talked too raised an eyebrow when I explained this.

Thanks Fred.Maybe I didn't understand when he told he explain, I understand what you describe.

And if you see it working with you, then you can explain the same to potential tenants/buyers.