A knowledgeable attorney can advise here.Create a solid operating agreement: Since you own the condo with a friend, a clear operating agreement is essential to outline responsibilities, decision-making, and profit-sharing for the LLC.To save on costs:Look for real estate attorneys who specialize in investment properties and might offer package deals for the retitling, operating agreement, and filing the LLC.Shop around for title companies that can handle the transfer smoothly and provide competitive rates.Research DIY options for setting up the LLC if your situation is straightforward, though I’d still recommend a lawyer for the transfer process itself.Good luck with the process!

Other areas nearby that are great include, Cardiff, Encinitas and Del Mar. 

for months, a company out of the metroplex has been offering to buy it.

Markets like Texas (San Antonio or Dallas) or North Carolina (Charlotte) could offer better cash flow with lower costs.

Learn how to analyze deals, and analyze at least 20 of them just for practice and feedback before you make a real offer for any property.

The only thing I will say that I wish they offered within the app that they don't is a way to track mileage. 

I recommend dealcheck.io or DoorsIQ.com (a free version of the app previously mentioned) as a good way to run through a lot of properties to get a better a feel and they both offer resources to help build your team too

I can also offer some insight into where you can find and create partnerships.

What should I look for before making an offer on a property like this?

From a tax perspective, rental properties offer benefits such as depreciation deductions, 1031 exchanges, and potential short-term rental (STR) tax loopholes to offset W-2 income.