Create a trust to put your deals under contract with sellers.

And any amount you purchase over the amount of your sale adds depreciable basis to your property and does create more depreciation allowance.Your situation isn't hopeless but it's probably going to have to be multi faceted and one where you have to compromise a little.Unless you simply do a cash out refinance and let the property support the new debt. 

Go here on BP for your State specific lease agreement. click on "Store" above and click on the link to the right "Lease Agreement" and then pick the State you want the agreement to work with. you can also go to " Tools" and then "Fileplace" to see if anyone has downloaded any other forms you may want. here is a  move in/out check list i created that is on the site:https://www.biggerpockets.com/files/user/kidsalot/...

Sell it, and go buy something that actually creates a cash flow if that is your goal. 

A EIN and associated bank account would be created for the LLC -- and the property paid for by the LLC (no financing associated with this property).A few quick questions:a.

I create a spreadsheet of properties I think are good deals and sometimes we offer on them sometimes we don't...but whenever the properties do sell then I save them and when they get flipped and relisted then I get an email alert.

Looking to team up with a Realor to create a funnel for deals.

If you're an investor yourself you can just create and LLC and self-certify as an opportunity zone fund.

To me, life has always been about doing something that I truly enjoy, while trying to set myself up for long term financial freedom by creating multiple sources of passive income.

@Nicole Richards Many of the answers you are looking for can be found here: How to Effectively Conduct Joint Venture Agreements as a Real Estate Investor596231-how-do-i-properly-construct-a-purchase-with-a-partnership591376-create-an-llc-for-first-partnership-best-way-to-do-so526244-taking-on-partner-s-and-limiting-our-liabilitesGood luck!