Here is a sample MODFN & ASSUMPTN document (not mine, since mine was a "simple" assumption) with "LENDER CONSENT AND RELEASE" clause (#5).Too bad for the reporter... but sounds like the bank 'did the right thing'.

The City may provide solid waste collection services to any building with five or more multi-family dwelling units but less than 30 units upon consent between the City and the responsible party. *14.

He consented.

I know of at least one structure to do this which passes IRS muster, but it is likely to be prohibitively expensive:Form the LLC Draw up a promissory note from the llc to the IRAStructure the note as a convertible bond with a fixed interest (which can be adjusted by mutual consent)Note converts to equity upon sale (equity kicker)Hurdles: I believe this is bank dependent but common...IRA will have to own less than 20% of the equity so as not to be on the note, so the IRAs interest received should work out to about 50% of the return minus the 20% in an equal partnershipUBIT will need to be paid in the financed portion (not awful)Bank needs to be informed and agree to the bond being in second positionYou will likely need an IRA custodian sign offDon't try this at home!

All profits & losses to be split evenly, 50%Opening a separate bank account for the LLC to receive rents inAll Cash flow will be put into a reserve account until the reserve amount is met, then distributions will occur (haven't decided on frequency).Any time money from the reserve account is used it will need to be replenished before distributions kick in againIn doing some searching on the forums I came across a few ideas I think are good:Setting a purchase cut off amount for a member to transact business up to a certain dollar amount (say $500.00) without consent of all members.How things will be handled if either of us passes away, gets married/divorced, or wants out of the partnership etc.I'm sure there are things that I'm missing that are super important and thoughtful to have in the OA.

I never allowed nails in any wall without consent, I have hung mirrors and large items myself to ensure the walls were not scared up!

I know a guy who is renting his apartment to a friend who will be AirBnBing it with the landlord's consent. 100% of the proceeds goes to pay the rent, then they split the remaining income 90-10. 

Which is a pain in the *** as without the consent of the bank we can't even sell the property to a LLC later on.But nonetheless we could structure the deal like you suggested.

When you have consent to dispose the requirements are no longer in effect, need to abide if there is a chance of claims being made, in this case it's agreed and not an issue. 

The reason banks require consent, notice and agreement is due to their liability in not only a SS but any loan modification, assumption or other action in that loan in dealing with those held responsible for the debt and redemption.