Putting rental home in a trust and make the tenant 1% benificiary

[Carol H.]

My HOA has a rental cap, and the waiting list is 4 years long. I bought this condo was meant to live in for a few years, however, with my job change, it does not make sense to live here any more.

My plan is to create a trust and move the condo under the trust, then name the tenant 1% beneficiary. I have a few questions:

1) I heard it takes $1500+ to set up the trust document etc, so at the time I need to change tenant, can I revoke the 1% from the old tenant and grant it to the new tenant without having to create a new trust? (to avoid the $1500+ again and again)

2) In case the tenant does not pay rent, can I easily revoke the 1% from the tenant so he/she won't consider as one of the legal owners of the condo?

3) Any other risk that I did not think of?

Thanks!! And I also heard LLC might works better than a trust, should I try to set up a LLC instead?