@Aria SahaSave your $ and don’t transfer to LLC just get an insurance policy with umbrella policy

Reliable?

Generally speaking, as long as your daughter has not reached the $13M lifetime gift limit, the gift won't be subject to gift tax.You would want to get a qualified appraisal for the the fair market value at the time of gift/sale, Zillow is not the most reliable :-)

But if tenant stability and needing cash flow are higher priorities for you, then it may be worth re-evaluating or looking at alternative properties that offer more reliable cash flow from day one.

I was told that if you purchase a property using a conventional loan (mortgage in your name), that within a month or so after you purchase the property, you can use a Quick Claim Deed or Warranty Deed to transfer the name on the Deed of the property to your LLC.

With a land trust, the legal ownership remains with the trust, helping to avoid triggering the DOS clause when transferring beneficial interest rather than title.

Here are a few ways you can still verify their income, reliability, and background:1.

Now onto the real estate...If you truly want to protect yourself against STR regulations only purchase property with the intent of  operating as an STR where these three principles apply: (1) the use is allowed, (2) the use requirements are protected by in place permitting and licensing and (3) the permissions are transferable through a sale.

You need to make decisions using the same principles as retailers.One goal of a rental property is to have a reliable income.

The eviction came about after this management company essentially held the house ransom stating they would not vacate the property unless I wire transferred funds to meet their $3,650 demand.