Wholesaling is when you assign a contract and never take ownership, or if you double close the end buyers funds are still what purchase the property for that brief moment when you close on it and then they close on it. 

Who has ultimate ownership of your business, you or others?

You could consider a Land Contract, which retains an ownership interest on your part.

Being able to bring verification of ownership from the seller is key.  

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

It's best to delead when the units are vacant to avoid extra costs like hotel fees.In the case of a property transfer where a child under the age of six will reside in the property, the new owner is responsible for bringing the property into compliance on or before 90 days of the transfer of ownership.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

I have a similar setup, but not for real estate, so it might not be 100% relevant.1) My partner and I set up a Partnership (ill tell you why next).  2) Then each of us set up S-Corporations, which is also owned by our wive's (could be owned by a trust for further protection, but I haven't).The reason we did a Partnership is for two reasons 1) You don't have to abide by the ownership % for your distributions (mostly), and 2) it can be owned by another corporation (S-corp can't).Again, this isn't for real estate, and could change because it's passive versus active income, but with our personal S-Corps, we can set up different strategies that i won't get into here.Feel free to reach out and I can introduce you to him.  

@Marcus AuerbachI too am in search of this amazing "cash flow" that I will receive on Day 2 of ownership. 

Should I sell the properties, take the hit, and then buy a new property under a business loan or am I allowed to 1031 while changing ownership to an LLC?