Hey all,A developer I was talking to told me about a way to acquire properties by having the seller put the property in an LLC and transferring ownership of the LLC (or selling the LLC) with all it's assets to a new owner.

We have one business account per ownership entity.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

I won't run down rabbit hole of details on such but I am thinking the "asset island" method and the veil as to whom ownership in LLC is.   

I get texts/postcards/calls offering me cash for the house a lot, but I don’t want to sell the whole thing outright, I want to retain my ownership and investment and build a property empire with someone who wants to invest - and I’m totally okay with full involvement or silent partnership. 

This is a great website that should definitely be utilized.Electronic Locks / Lockbox - Day 1, I have a handyman set up electronic locks on the front and back of the property and set up a lockbox on the premises for contractors.Welcome Letter - Day 1, I provide the welcome letter going over the new ownership and any other applicable information.

So there are no bank fees to buy the property and we are not limited in the number of properties we can do.The seller transfers ownership to us.

The property is not yours and much of the newer legislation regarding tenants rights effectively strips many ownership rights. 

You retain ownership and responsibility for the property. 

This is not easy to do to be honest, mainly when you are out of state, I have built teams for startups remotely and it was hard though with a good accountability and ownership you to things done.