@Zachary MesserYou can also try this link where there are numerous forms that you can select from:https://journal.firsttuesday.u...Good luck...

If your aunts and uncles are seniors make sure all their relatives agree to them giving you 10’s or hundreds of thousands of dollars that they might have expected to inherit so you avoid any charges of taking advantage of the elderly.

@Christian Espana, If you have no cash flow then. you probably are not able to take advantage of depreciation write off as well. 

Peace of mind is one of the biggest advantages when it comes to real Estate.

We don't intend to ever move back into it.From a tax advantage and overall investment perspective, would it be better to: A) Hang on to the condo long term if it's doing well, and when needed do a 1031 exchangeB) Sell within 5 years - as I understand it, the 2 year/5 year tax rule for us would be 17/24 months x $500, 000 = 354166.67 of profits tax free advantage.  

I'm expecting a continuation of the current wave of inflation, so locking in low rates is an advantage as far as I'm concerned.

Not sure which way to go but I was hoping I could get some advice on which would be the most advantageous way to go and also how to go about financing a rehab.

@Reyna Lopez Create an LLC with S Corp selection.

Marketing I've done: Listed property w/ local property managers - they post on MLS and syndicates to Zillow, apts.com and craigslistI'm posting myself in off-campus forums and forwarding qualified applicants to property managers for showings April 15-30th (when I didn't have the property managers)8-10 showings mostly off Zillow/FB~3 Applications0 qualified renters/0 tenants bookedMay Stats:9 or 10 showings 4 applications1 tenant booked in unit #1There are 2 remaining units, unit 2 and 3, which were initially priced higher than unit #1 because they are slightly larger -- That said, I'm thinking that I reduce prices and take advantage of the higher demand in the coming months...Does this answer your question?

Obviously my main goal is to be to take advantage of the tax deductions while minimizing tax liability.