These are really questions for your attorney - the more typical scenario for a jv like this is you have a new LLC where you are the manager of the LLC and the investor also owns a percentage of it.that way you don't have to deal with transferring it etc. 

They wanted to meet in Belize with an attorney and pay cash and transfer title.  

Overall, my primary goal is to create the opportunity to get into another home at minimal cost while keeping my parents in the current home, so I'm leaning toward transferring/selling the current property to them.

@Jonathan Greene @Jay Hinrichs @Nicholas L. short sales are almost always done through RE agents and are a major pain the butt if the lender servicer wont respond in a timely fashion.Pre foreclosure you dont use and agent but if your talking NY I think and not totally sure but I think only an attorney can draft the Deed transfering title .

This is what I am encountering, in the current Mortgage Industry.If you think you will go FHA, Conventional, FHA 203k, etc. and then Quit Claim the property, to a Corporate Entity, or a Land Trust you run the risk of the lender discovering a Title Transfer occurred and activating the "Acceleration Clause" or "Due on Sale Clause" that requires the loan to be paid in full, within 'x' number of days.

I found a seller who is motivated to sell his property at a pretty steep discount.My plan is to put the property in escrow on an executory contract/land contract with the condition that the title will transfer once the seller receives his funds.

Transfer these pics to your computer. 

@Daniel Johnson Hi Daniel, I just moved from Ontario to Nova Scotia and transferred my real estate license to NS, my wife and I are investing in Nova Scotia, and would love to help you out with your short term waterfront rental project, you can message me anytime. 

Upon her passing, the 401k interest was transferred to me into an inherited IRA account at the same servicer.

This is another reason why I see 1M posts on hear about people wanting to transfer properties to their LLC because some guru they paid $5k told them too.