Which is better way to legally structure the properties for protecting assets against tenant lawsuits.

.: In CA it is a violation of CSLB business and professions code 7159(d)(5) to execute residential time and materials contracts.

The Board already spends funds on things owners disagree on, such as expensive vendor contracts where a Board member gets a referral fee or is part of the contract.

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

It seemed like most the folks you have on staff are CPA or other, but no specific legal experts.

If the client wants the deal, we proceed with getting it under contract.

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

The seller has the two lots legally separated, but due to deed restriction imposed by the subdivision development, found that building a house on the “tennis court” lot was not allowable. 

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

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