From time to time, I consider selling a property and ask my CPA what he has as the cost basis so I can understand the tax ramifications. 

The previous owner did not give me documentation on the current tenants.

Additionally, the management companies would take around 10% of the rent for their services.Given this, I’m exploring whether it would be a smart move to refinance when interest rates drop, and possibly form an LLC to transfer the property into.

The cost of waiting is huge with the appreciation and rent growth we've seen the past few years.

Upon initially listing within both the Zillow and Apartments(dot)com networks, I left the application feature on to see what would be received...

We bailed the previous owners out of foreclosure and refinanced the house.

I have been watching the markets for the past year or so looking for a property that I can use the BRRRR method on, but what I have been seeing is that the homes that require work are selling for WAY more than they should in their condition.

Do you think the potential for appreciation or cash flow in Texas outweighs the tax burden?

Think of the end of the year as well.

Once an offer is accepted, the agent forwards the money to the title company or closing lawyer.