Upon the sale of the condominium, the capital gains on Person C's sale would be calculated as follows:A. 33.33% of the sale price minus the original purchase price to account for the interest acquired via quit claim deed on July 7 2015.B. 16.66% of the sale price minus the stepped up fair market value on 11/17/2020 as capital gains for the 16.66% remainder interest acquired on 11/17/2020 from Person A.C. 50% of the sale price minus the stepped up fair market value on 01/17/2023 as capital gains for the 50% remainder interest acquired on 01/17/2023 from Person B.Total Capital gains would be the sum of items 3A, 3B and 3C above minus any allowed deductions, such as the home sale costs (closing, repairs and so on).As an individual owned rental property, upon sale the only way to avoid the capital gains would be to do a 1031 exchange and then hold the new property that is purchased for approximately 3 years before selling it. 

The STR provides a much better return than the average return of our LTR's, but it requires considerably more effort and oversight.

Account Closed do they have control of the heat or do they have to open windows to cool it down when it is too warm.

Investing a few thousand dollars can provide a comprehensive roadmap and access to a supportive community of like-minded individuals.

I don't have any property in Memphis myself though - I would strongly suggest reaching out to investors who do own property in Memphis to get their opinion on it (many folks here on BP are very helpful and willing to provide insight). 

What do your property managers provide to you for your taxes if anything or you you keep your own spread sheet?

It's really helpful to provide a bit more context on the reports. 

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

Happy to provide a crash course.

They're so expensive, but I'm having trouble finding an insurance provider for short term rentals.