The gift is $150k, not $50k, and it does require you to file a gift tax return.

Strengths:  People skills, carpentry, gifted (IQ), career is math teacher, love analyzing deals, pretty good instincts with numbers, etc, lots of experience flipping home owner houses (hired by others to renovate bathrooms, kitchens, and have done whole house gut renos), degree in mathematics and interior design, basically skilled at making profit for not a lot of $$, knows what neighborhood I want to buyWeakness:  not a lot in savings, not clear judgement who is a good lender or agent (easily ‘fooled’), credit isn’t strong either because I just went through a divorceWhat do you suggest?  

Talk to your accountant about 'gifting' your limit is 11.2 million and your spouse has the same.

They do not "sell" the asset to the LLC they gift it/give it (which could have tax implications), but as noted in this and other posts, the LLC is not separate.

And depreciation is exactly what you said - a gift and a trap.If depreciation is planned for and mitigated through series of 1031 exchanges over the years you've achieved two things - First you've received hundreds of thousands of dollars in tax relief by taking the benefit without having to pay that back. 

She recognizes that we both have gifts for the other one.

the gifts arnt necessary but sugar gets you more than vinegar right? 

Getting a loan for construction is intricate (not so much about the actual know how) but also assessing holding costs, permits, zoning, ARV, ROI, etc etc etc Now, don’t let me stop you… some of you are fast learners! 

,I'm receptive to pretty much anyone putting something in front of me, unless it is a classic Nigerian scammer asking for two dozen iTunes gift cards.

It also, helps reduce stress that I had before becoming wealthy (stress of bills).Also, I like being able to go to the store and buy whatever is needed and buy some gifts for others that truly need help (say disabled - not just lazy or entitled), it's rewarding.