If you want to gift the property to her, the best way to handle that (from a tax standpoint) is to transfer that, file the gift tax return, and utilize part of your lifetime exclusion to avoid the gift tax.

Reno is blowing up with Tesla and other companies expanding from SF Bay ARea.No income tax .. as well.Oh God, I just got a Columbus keyword alert........Prepare yourself boys and girls.....THEY.

Treasuries or structured annuities to fund your future payments.Tax Advantage: This structure defers capital gains tax as the gain is only recognized when you receive the installment payments.

Typically property appraisers tax a property  at 15 to 20% below market value specifically to avoid people protesting their taxes.  

If both types of income are mixed in a single entity, the IRS may classify all the income as active, potentially subjecting your rental income to self-employment tax as well.To minimize self-employment taxes, it is important to keep active (flipping) and passive (rental) income streams in separate entities.

I believe that California does not have inheritance tax as well.

You have to compile all the info to send to them you might as well file yourself on Turbo Tax.

I pay a yearly tax on property in January each year according to the appraised value.I have a few questions.What other taxes do I need to pay in Texas and on the Federal level (US Federal income tax) as a Foreign entity Trust?

Your gain could actually be higher.With your W2 being at 100k yr/ you'd be in the 15% tax bracket + Michigan state tax. 

Holding on to the asset for at least 12 months will make a difference, as it will be taxed using the long-term capital gain tax as opposed to the short-term or regular tax rate.