Therefore, you will need to have trusted people serve as the settlor and trustee and you can be the beneficiary (or you can be the settlor and a trusted family member or friend can be the beneficiary).

Hi @Dave Allen I have all of my rentals in separate land trusts and the beneficiary of the land trust is my LLC.I use a local trust company to be my trustee and have another great resource here in Orlando as well.

For posterity:A local attorney (who is also a CPA and focuses on RE/Estates) did inform me that it would absolutely be possible and binding to create a lease option that would then just transfer to beneficiaries upon passing of the owner.

Using Whole Life insurance is a important cog in that plan.I would personally put my assets inside a BDIT (Beneficiary Defective Inheritor's Trust), or a SLAT (Spousal Lifetime Access Trust) to freeze the estate at $10mm.  

My understanding is as follow for (but I remember reading about some very narrow exceptions that may be different), as long as the policy does not become a MEC.premium are not deductible (after tax).grow of the cash value is tax deferredWithdrawals from cash value are taxable above the premium basis (FIFO).Death benefit to a beneficiary are tax free but are counted towards the total estate value for estate tax.

However, being in a single owner LLC, does this mean it will not get the step up when that owner dies and it passes to beneficiaries?

AS for structure and if you guys come to terms.. its simple for you siblings to simply be co beneficiaries of the note and mortgage.. 

I get low DP, being creative and all that, but I bet skipping proper title DD on top of not knowing how to handle hazard or title insurance beneficiaries will blow you up. 

Which are the best for giving control to the investor to make decisions and - How do I set up an LLC in which my IRA is the beneficiary? 

You'll have to research the file.Once in awhile even if the PR has Full Authority they'll be a court confirmation sale for the protection of the PR representing the estate, beneficiaries or other reasons.