Currently we are working on 3 properties that we have hired an attorney with a title company to navigate through the taxes and who all may have claims to the property. 

The JV agreement should make this clear.You may want to speak to an attorney and a CPA familiar with these transactions.

Questions for Real Estate CPAs and Attorneys (or genuine experts), preferably who know the Las Vegas Condotel market:Looking at my first investment property.

The thinking with the institutions is that you're not doing as much as you would on a $5M-$10M transaction as the sellers and buyers typically already know eachother, have teams to underwrite the properties, and have attorneys to handle the contracts.

Some states also require an annual license fee to own and operate an LLC so that could also cause a potential for increased costs there as well.I would consult with a real estate attorney to see if an LLC makes sense from a legal standpoint and advise your accountant as to your decision so the appropriate tax filings can be made. 

@Adolphus Fletcher Why are you asking advice from wholesalers and investors and not an architect or zoning attorney:) Setting that aside, yes I've obtained many variances in Philadelphia.

They will charge extra for any extra work performed, but it could be much more beneficial than tying up that much equity in a partnership with someone you don't know.Also, if you ever do have a partnership, spend the money on the front-end with an attorney to get a sound operating agreement that makes the divorce less messy if it comes to that.

Of course, dicuss each scenario with an attorney.

Here's an attorney website with information on ending the lease.

If they own nothing then probably makes no sense to even spend money on attorney