Through this assignment agreement, you are transferring your rights to purchase the property to your buyer for a fee.

It pays out monthly until owners pass then the funds transfer to heirs.

Most lenders aren't cool with transferring the title to an LLC after closing, so it's likely we'll have to close under our personal names.

I transfer via ACH/wire all the time with no issues.

Fees of sale are: $375 (resale certificate) $225 (transfer) $850 (cap fee)6.

If the STR strategy is the only strategy that makes the property pencil, be sure to purchase in a market where the use is allowed, the use requirements are protected by in place permitting and licensing and the permissions are transferable through a sale.

If your friend bails, having the property in an LLC makes transferring shares simpler.

However, after the exchange, they want to transfer from personal name to an LLC under their Holding Company to protect their assets. 

You just can't escape the transfer of (reduced) basis on 1031 or the recapture on sale unless you croak.   

Also, you can always cashout refi them AFTER retirement and get that money tax-free (until you sell or transfer via inheritance).Recommend you read The Millionaire Real Estate Investor, which shares the plans of several different investors.