I got stuck with opening a bank account for child Florida LLC. 

When my wife and I first started out when I would call relatives they would ask "new house or new child?" 

I could play in a river like a child all day long.

And boomers taking money out of the system at a scale we have never seen.

Tax liens are ultra competitive, airbnb arbitrage is like a child playing with a flame thrower right now....

PLTR.... is the poster child of irrational valuation.

This is typical in an intervivos conveyance everywhere because one does not want to waste the money on a title exam when gifting to a child and also having to recite all of the liens and mortgages that might still be on the property.

They stayed for 13 years until their youngest child graduated high school, before moving.

My understanding is that if you spread your LTCG and depreciation recapture out over, say, 15 years, then your tax liability could potentially be reduced significantly (under current tax rules).Tax pros can comment, but I contend that in the next 10+ years this will be a strategy used by a lot of boomer rental owners as they exit the market and trade rentals for nursing homes. 

In my experience it is always best to be up front with tenants, let them know this third person needs to go through the application process if they are going to live there, (assuming its not a child).