Form an LLC to purchase my girlfriends property?

[Tyler Cox]

Hey everyone, my girlfriend and I have made the decision that we want to buy and hold properties, and gain enough cash flow to retire early and enjoy our lives. Our goal is to continue our W2 jobs for 10 more years (hopefully less) and then retire.

That being said we are at the crucial first investment. Now my girlfriend has owned her condo for about 9 years and owes less than half of the remaining mortgage. Her address is not my primary residence. I would like to form my own LLC, being I am the owner and only employee, and purchase my girlfriends condo for what she owes.

So then my LLC owns her property, and can take out the equity to use as a down payment on another rental. Curious if anyone has had the same thought?

Thanks!