Probably not. If the transfer price is zero, then that now becomes my tax basis in the property. So assuming again that I put in $100k originally, and now take

Probably not. If the transfer price is zero, then that now becomes my tax basis in the property. So assuming again that I put in $100k originally, and now take out one house worth $150k, then sell it, I’m going to pay capital gains on the full $150k, not just my $50k gain. What probably happens is that I sell you my share in the holding entity for $150k, and the entity sells me the house for $150k. There are cases where you could simply dissolve the entity and distribute the assets, which would avoid the sale and resulting taxes, in which case you’re just re-titling it and not selling it. Tl;dr: this gets complicated really quickly.