The downside is that I have to put in $480,000 Dollars of TI and brokerage fees, but the upside is that they will be putting in 1.5 million to redesign and improve the existing structure. 10 years from now I might have to go through the same thing, but I wanted to give you an example of how things can go wrong at the end of these leases.  

This was my first deal with a 30 Year fixed mortgage and the paperwork was the biggest challenge.

Biggest advice I would give is get out to real estate networking events!

Any down sides? 

The biggest disadvantage is not being able to do a cash our refinance correct?

If you have generally good tenants who pay on time, that's the biggest hurdle.

As others have said, selling your current home and moving to a less expensive market has its downsides.

Then some time on understanding risk and how to manage potential downside vs expected upside.

I'm not the biggest fan of Whitehall or Hilltop.

I've posted on this subject on multiple occassions, feel free to take a look at my past posts.As for your next steps, there is no downside to transferring the properties to an LLC.