Asking in the correct forum will get a better response.Read the RULES!

If I understand the Act correctly, the regulation allow one spouse transfer loans to another spouse keeping the existing terms without the regular qualifying requirements.

In this case, the LLC will file taxes as a pass-through entity, meaning the income or losses will be reported on your personal tax returns, and each partner will report their 50% share of the profits or losses on their respective individual tax returns.To make sure you’re doing things correctly, I recommend consulting with a CPA who specializes in real estate investments, as there may be strategies to mitigate tax liabilities or specific deductions you can claim related to the flip.

@Shyam Sridharan if I understand correctly this is essentially the interior buildout of a new construction retail space?

Creating an LLC and getting insurance on rental are two methods of "Asset Protection" that most real estate investors use to protect themselves and their assets. 

In addition to reviewing the numbers, take time to tap into your intuition (through meditation or other method) and your gut will help you make the right choice.

Though many investors bend the rules and possibly don't get caught, you have the financial situation to do it correctly.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

This is within 21 days of them returning the keys and giving a forwarding address, correct?

@David Cherkowsky   The above is absolutely correct, BUT do not assume you cannot qualify for a conventional loan.