This applies to all transfers by foreign taxpayers – whether by sale, exchange, liquidation, redemption, gift, or otherwise.

Hello,Does anyone have recommendations for an attorney to help with LLC formation and deed transfer for a rental in Orlando, FL?

If you hold it in your name, you can always move it later, you just need to ensure you don't have a transfer tax associated.

Hello,Does anyone have recommendations for an attorney to help with LLC formation and deed transfer for a rental in Orlando, FL?

I'm not sure if there is such a deal structure or even the risks involved if engineered,  but the idea would be that the title doesn't really transfer / and a final balloon payment isn't made until after the property actually transfers to the children.   

I’m calling them to see what’s the process of title transfer and to just to make sure there are no other liens on the house.

2 weeks will be extremely challenging especially without pre arranged financing.In some ways the delinquent rent is a positive because it implies that rent control does not come into play.On purchase, you want the owed money to transfer with the purchase.  

Verify all utilities are transferred & rental insurance obtained (if you require)6.

That being said, our market could be completely different than yours so I'm not sure that transfers to you.

Then get hit with the capital gains tax, but then when you buy second property and live in there 2 years and sell, do you get to transfer over the 2 years no tax benefit since you did not use it on the first property?