You are paying for it with a higher rate.

To get around this some folks will purchase the vehicle in an LLC and then sell the LLC, and this is not breaking the agreement.The same thing would apply here.

@Jordan Moorhead I know of many single-asset syndications as well as funds that pay distributions but have negative operational cash flow.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

We own two beach houses in ocean lakes and they average around 50-70k/ea depending on economy etc. you couldnt pay me to buy a condo in nmb or mb right now

My two partners are willing to pay their share, but they’ve also offered me the option to take over the property completely since the loan is in my name.Here’s my dilemma: If I keep the property and rent it out, I could get around $2,300 in rent, but my mortgage is $3,300 at a 7% interest rate.

Sellers can avoid paying transfer taxes to the county, while buyers are spared from facing significant property tax increases.However, it's important to note that lenders typically only approve these loans for properties with five or more units.

Kody, you need to investigate the Pace Subto group and pay to get in. 

Thanks, it all sounds good as long as I can avoid paying hefty taxes and generate cash flow.

With the exception of building a trailer on the property (these are hard to finance), this sounds like a good plan AND if you are using it for your business AND your business pays more than 50% of the rent (if you have more than 1 tenant), then this is a more financeable property in the eyes of banks and credit unions as it would be consider a commercial "owner-occupied" property.