It may be too early on to be trying to structure ourself this way, but I feel like if we create our system now each door will be easier to add to it later.I’ve read about a lot of different strategies including: - Keep the houses in your name, use an umbrella policy (which we have) - Series LLC (Delaware) - Real Estate / Land TrustMy wife and I currently reside in Massachusetts and the fees for businesses aren’t cheap (LLC’s are somewhere around $500).

My rentals are in Delaware County so they ended up being the best choice for me. 

@Carmine CatalanoHola Carmine, te voy a enviar mensaje directo para hablarte por teléfono o video sobre casa de dos o 3 familia en NYC

I’ve a group of friends who would like to invest with me - somehow I was able to pitch my plan to them and they believe me because they see how determined I am and know that I’m a person who finishes what she has started, has a good work ethic, and will do whatever it takes to get work done.We would like to start by exploring the Delaware market and we were looking into LLCs.

If you want to stay in real estate but want to be passive, then you can consider a DST (Delaware Statutory Trust).If you want all out of real estate, then you may be stuck with a capital gains tax bill.

I think if I'm the tenant and don't want to move I'll argue the Buyer's closing without termination of the lease(s) is de facto waiver and acceptance of the property with tenant(s) in place.Just my opinion 

Some helpful hints for "de-risking" this:1.

A nonconforming use is a use of land, buildings, or structures that was lawfully established prior to the effective date of this ordinance, or any amendment thereto, but which does not conform to the regulations for the zoning classification in which it is located.Nonconforming uses may be continued subject to the following limitations:a) No nonconforming use shall be extended, expanded, enlarged, or moved to occupy a different or greater area of land, buildings or structures than was occupied by such use at the time it became nonconforming; provided, however, a nonconforming use may be extended throughout any parts of a building which were specifically designed and arranged for such use at the time it became nonconforming.b) No building or structure devoted to a nonconforming use shall be enlarged, extended, recon­structed, moved, or structurally altered unless such building or structure is thereafter devoted to a conforming use; provided, however, such building or structure may be enlarged or extended upon prior authorization from the Board of Adjustment, which authorization shall not be granted unless the Board of Adjustment makes each of the following findings of fact:1) The proposed enlargement or extension shall be de minimis in relation to the existing building or structure.2) The proposed enlargement or extension shall not increase the intensity of the nonconforming use, which is to say, it will not result in an increase in dwelling units for a residential use nor in gross floor area for a nonresidential use.3) The proposed enlargement or extension is designed so that it will not render the use of the property any less compatible than it is in its existing circumstances.4) The authorization of such proposed enlargement or extension is not otherwise contrary to the public health, safety or welfare.c) A nonconforming use of a structure may not be changed to another nonconforming use unless such change is authorized by the Board of Adjustment.

We have used this model in a number of projects, refinancing and returning 30-130% of original capital back to investors to "de-risk" the asset while everyone maintains their equity ownership / % for a longer term hold.

If it says you should leverage your RE, then use it to buy more, if it says you should de-leverage your RE, then put it there.Having said all that, it's clear you are uncomfortable with the risk you have, so the my advice without knowing anything about your IPS (very dangerous, for you) is to pay off debt.