Please note the information provided below is a layman's definition designed to provide a basic understanding for the general audience.

... as I own my RE portfolio via my single member LLC is there a process that I can setup wherein the event of my death that LLC passes to my designated individual along with the assets owned by my LLC? 

You can also focus on trendy areas like Ohio City, Tremont, or Detroit-Shoreway, where people want to be.When it comes to the property itself, you don’t need anything huge, and you don’t need to go overboard with the layout or expensive design.

I appreciate the info provided so far, but I have more questions and I don't expect freebies from pros like yourself.I'm looking to get together a semi-solid idea of how this all works before I drill down, in depth with my usual accountant in a couple weeks (if I still decide to drill down with my usual accountant after learning more info on what I'm trying to do - from you or someone else.)My usual guy can't get to me right away and I'm in a time crunch, if this deal is going to happen the way I want it to (bonus depreciation decreasing by another 20% on Jan 1st)I really just need to understand Bonus Depreciation, in detail, and as it applies to my situation.I'm brand new to all of this.

Once you know who your tenants will be, you can answer the property question on several levels, not only SF vs MF, but also location, size, features etcIf you design a car, you start by thinking about your target audience and what they want.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

This understanding will then flow back into your website and social media, since you can become more specific on which keywords you want to rank for, and how you brand yourself.Another tip is to look for communication channels that are are specific to your target audience and unsaturated.

This service will cost $558, but they won’t provide a warranty for parts aside from those we replace.Alternatively, I could invest in a brand new unit for $13,500.

The catch is you have to use their designated companies for everything including financing, management, and maintenance.

This is by design because I realized I was very far behind on my retirement savings and had to take drastic measures or I was going to end up working until I die.