I am aware of California's Prop 13+58+19 prop tax inheritance evolution and its complexities with LLCs but we are not considering inheritance or parent->child gifting etc.

Want to donate to a cause they don't like?

Last Monday they informed me that his parents are staying with them for a "few days" It has been a week and they have failed to offer any end date.

I decided to go with one bank account for the parent LLC.

You will have to pay taxes on money above $250k earnedLet’s say it’s in a trust and your parents pass and the house today is worth $400k and you sell it in ten years for $500k.

The terms Subsidiary LLC and Parent LLC don’t mean much on their own—they just describe one LLC owning others.

Regarding Rob Beardsley he grew up in Silicon Valley and learned about real estate and tech from his parents, who ran a real estate brokerage firm from home, thus he had a built-in mentors and good networking to start with in addition to the capital that his parents have preserved for him so he got a good jump start.

Typically they already have a blueprint that they can readily see from their parents examples, but the motivation and drive is not there.

I am currently ending the co-ownership because my dad seriously screwed me over & I have no idea if it'll end with me getting half the fair market value now or waiting until my parents die before I assume it. 

I grew up in a northwest suburb an hour to an hour 15 minute drive away from where I currently live in Chicago; and my parents still live out that way.