I do not think you are making a bad decision and if I only had 3-5 units in a single ownership structure, and I was willing to spend $100 a month I would do it too.  

They would get the tax breaks, have all the responsibilities of ownership, above and beyond a NNN lease. 

. ;-)But, where mentors/coaches/teachers should shine, is directing individuals on the path they choose, in the market they choose, providing the fundamentals, through marketing, acquisition, ownership, asset protection, taxes and goal planning.

I know that searching for financing sooner than that is appealing, but the best rates that I have seen all require closing after 90 days of ownership.I will usually kick things off around day 60 of ownership and plan to close within four weeks of that. 

@John McGuire, while this is ultimately a question for both an attorney (are you actually creating any real protection by holding in an LLC) and a thorough review of your actual mortgage agreement regarding transfer of ownership, I will say two things:Typically, services don't care if you transfer ownership with your mortgage.  

While still allowing you to reap all of the benefits of real estate ownership including not just a return, but also capital appreciation, depreciation, and amortization of the loan (if you have one).This kind of transition is exactly what 1031 exchanges are designed for.

While these merger ordinances come in different flavors, most of these ordinances provide that in order for merger to occur the lots need to be in the same ownership.

@John Tarantino1) The state of ownership shouldn't matter as long as you are still able to meet one of the 7 stipulations linked here.

This cap typically remains in effect unless there is a "change in ownership or control" or a qualifying improvement to the property, among other exceptions.

The higher HOA and insurance fees have made investing in condos more complicated and not look quite as appealing, but there are still condos that can be purchased and an owner should be able to cover the cost of ownership.