Property owner receives units equal to total dollar amount of net equity5) Dividend: Property owner immediately begins to receive passive dividends and any tax benefits from the fund's diversified pool of assetsObviously, we think this is a great idea and opportunity for folks to capitalize on appreciation, defer taxes from 1031 swaps or cap gains, continue to cash flow on their investment while handing over maintenance and operations, possibly absorb any unfavorable debt that's currently in the property, and make their investment more inheritable/transferable. 

They can't swap out appliances, paint the house, etc.

furnaces are an easy swap when not doing any ductwork and it really gives the property a finished feeling to the end buyer when they dont have to question any of the mechanicals.Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

They're very inefficient and can be swapped out to an air handler setup in the attic so you can have central air.

Let's see:1) Do a TakeOver Evaluation to document the condition.2) Take pics of furnace, hot water heater and any ac units to document their condition and serial numbers - to make it easier to order parts and also to prevent "theft by swapping"3) Do the same thing with all owner-supplied appliances4) Take pics of all utility meters to document meter numbers and confirm no illegal hookups5) Communicate with any existing tenant about transfer of management.

You will have to use to commercial financing since legal entities are not eligible for conforming residential loans (I'd highly recommend not following residential lenders advice to swap the Title back and forth with yourself just so they can sell you a residential loan).I'd recommend focus on making sure the property is "classified" correctly, and follow the corresponding path. 

They have standard addendums for Housing Assistance Payments (HAP) and violence against women...these originate from HUD and will be attached to lease when it is approved.If they are month-to-month Ohio Revised Code is the guide for your actions on lease non-renewal....you can swap the lease, but metro housing will more than likely require a fresh 12-month agreement...the alternative is to add and addendum to the existing lease if there are certain requirements you have that are not covered in the existing lease.

The central AC compressor outside had to be swapped out from a more powerful unit to a smaller unit to meet the town's code.

Your accountant simply reports the swap of membership interest in exchange for the contribution of the property. 

Rents are up and investors are revitalizing communities.I'm seeing a lot of multi-families swapping hands off-market at pretty strong prices, everything from 10+ units down to the typical 2-4.