“Asset protection” to be most effective AND cost efficient should be set up taking into account the individuals assets, occupation, potential liabilities, age, and family status.2.

The individuals that broke in did the following:    a.

The heirs can choose to hold their shares and receive dividends or sell them.Passive: Allows investors to trade an actively managed real estate asset for a passive investment in an Operating Company that is typically run by an institutional asset management firm.Consistent Income: Operating Partnerships can issue dividends or distributions so that the investor has cash flow.Portfolio Diversification: Enables the investor to achieve diversification across geography, industry, tenant and asset class in an Operating Partnership structure.

You normally want to mark that the partnership is filing a final year return.If one partner is being brought out, that individual will have to report a sale on his/her individual return.

Private would be money lent through anny company or individual outside of a loan from a bank...

It’s up to individuals though, to get serious and learn things properly.

An individual could name both the LLC and you in a lawsuit. 

Already a co-owner of  single family home with shared common space and bedrooms rented to individuals.  

But I understood that there is California Code that enables and limits what laws cities and counties can enact and enforce.

@Kenneth P Ford they are a national franchise with great marketing.They also have some national support for their individual franchises, but it all depends on the local team.Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.