If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Quote from @Eman Tai: @Sean O'Keefe could I get a copy of the log book that follows the IRS guidelines? 

I have a few questions- "We started an LLC" "We purchased a property" Who are the legal owners of the LLC? 

An LLC is useful for two things: anonymity and legal protection.

A licensed agent can do all the things a wholesaler can do, and is a proven business model where the same hustle that any successful wholesaler brings to the table can be rewarded 10-fold more, with little in the way of legal obstacles.

I have just under five rental properties and I understand the legal benefits of creating an LLC (married to a lawyer).

My mission is to have people use creative financing  safely, ethically, and legally.

.: I haven't passed this past legal review so for what its worth: Part of my standard requirements for everyone include income is at least 3X rent, minimum credit score, say 640, Clean record and no evictions as well as deposit is paid in full at signing of lease and 1st month rent is paid in full prior to handing over the keys.

You can also find various contracts online, develop your own then have an attorney review it to ensure it has teeth, and is legal in your area.7.

To avoid reducing your lifetime exemption, you could gift equity incrementally, but this requires proper legal structuring (e.g., fractional ownership transfers).