However, if you inherit it through her estate, you receive a stepped-up basis to its fair market value at that time, reducing tax liability upon sale.Gifting it now has no immediate tax consequences unless its value exceeds the $18,000 annual gift tax exclusion (2024).

@Joshua Martin,If there’s a chance you’ll sell next year, a HELOC might be the better move since it typically has lower upfront costs compared to a cash-out refi.

@Sue Duvall I suggest you go to a site for the residential assisted living academy in Phoenix.

I feel like I’ve walked the street without ever having been in the state.

What you can require legally changes depending on your location. - If you make the above clear in the listing, you will immediately get fewer applicants.

What are you hoping to get out of the extra time, work and costs of having the LLC?

Make sure you get that landlord info of the housing before the one they are in now.

Ironically, high income earners can make more passive income through tax mitigation than they can through buying high cash flow deals in nearly every situation. 

Live in the primary.

Quote from @Cameron Fowler: Hey BP Community,I am wanting to get into flipping and I have the construction experience but am lacking the cash or money to fund a deal.