So, what is your Coaching program called or your podcast series?    

I get into contract in my operating company and then assign the contract to the new LLC prior to closing.  

So we create a partnership agreement and a new LLC and he funds the LLC account with 50k.

We've got an LLC set up and identified our PMS and the tools we're going to be using.  

(A series shares).

I was thinking about having one LLC for the company owning the real estate and one LLC for the company running the business.

In an LLC or not does not affect dedcutability.

If real estate is involved, separating it into its own LLC before the sale can simplify the process and make it easier to leverage a 1031 exchange.This post does not create a CPA-Client relationship.

And an argument could be made that since she doesn't own more than 50% of the property that the entire ownership structure of the property equates to a non-related party for you (much like an LLC). 

For llc, land trusts, or living trusts?