Unlike our real estate investment, there weren’t hefty transfer fees involved in either the purchase or sale.

The oil company now owns the subsurface rights to that property (one of the property's appurtenances) and can transfer or keep them as they wish.

Transferring ownership to your LLC might trigger transfer taxes or reassessment, depending on your local regulations.Commercial lenders will evaluate your loan based on the property’s cash flow (DSCR) rather than your personal income, which is great for freeing up your DTI. 

Start by using a land trust and transfer the deed to your LLC later, once you’ve acquired a few more properties.If you’re willing to move and remodel, consider getting a 30-year loan on your next property.

Fannie Mae will allow you to transfer the deed to an LLC if you decide to try to go the conventional route, but the loan would still be in your names and you'll need to pay a title company a second time post-closing to do this  for you. 3) I can't speak for the area so no comment there4) If you're self managing, make sure you find vendors you can trust in the area since you won't be able to easily verify if an HVAC guy, plumber, etc. is trying to rip you off and tell you to buy something you don't actually need. 5) Make sure you have clear alignment of goals and a clear operating agreement that spells out what to do if those goals start to not align in the future since you'll be jointly obligated to these properties. 

Alternatives to ConsiderIf you want to involve an entity for liability protection or other reasons, here are some potential approaches:Assume in Personal Name and Transfer to Entity:Assume the loan in your personal name and later transfer the property title to an entity.Important: Transferring title may violate the loan’s due-on-sale clause unless explicitly allowed by the lender.

Here are title cost numbers from my last deal in Lake Oswego ($625k sales price):Title agent fee: $1100Owner's title policy: $1425Recording fee: $350MERS: $25There may be transfer taxes depending on what county the property is in, as well.Chris

@Daniel Johnson Hi Daniel, I just moved from Ontario to Nova Scotia and transferred my real estate license to NS, my wife and I are investing in Nova Scotia, and would love to help you out with your short term waterfront rental project, you can message me anytime. 

Transferring mortgaged properties to an LLC may trigger due-on-sale clauses, but transferring to a trust first can mitigate this risk.

Could you gift the down payment to your mother in law so she can buy it and then transfer title to you when your house is done?