So our profit/loss sheet and balance sheet all show that the property is operating through the LLC. 

These concepts are well described in the books "Richest man in Babylon" and "Profit First".

As an investor I would make sure the deal makes sense such as purchase price, rehab costs and After repair value to relist the home and make a profit.

And if you have lived in it for 2 out of the previous 5 years then the profit will be tax free -- so the answer then is sell now!!

The numbers and profit potential might be tempting, but for me, weighing the potential for family disharmony makes this a no-go.  

And if you buy well it is incredibly profitable. 

.,) (4) separate your assets from your operations [operations contain the most liability,] (5) introduce layers of anonymity to hide your assets from prying eyes.I approach these issues from the mindset of being an investor myself, so it all has to come together in a way that is profitable.

Since interest compounds on an ever-increasing balance (meaning you add 4% to $83,200, not to $80k, in the following year), I overall might actually stand to make MORE profit when it sells in 7 years due to death/divorce/whatever. 

Purchase price: $23,000 Cash invested: $45,000 Sale price: $119,000 One of our recent home flips, which net a solid profit to the owner.

It's tough to flip at that low price point and make a solid profit, congrats!