Include a buyout clause allowing you to transition to sole ownership after two years, based on a pre-determined valuation formula or market value.Use an LLC to hold the property for liability protection and pass-through taxation, ensuring both partners benefit from depreciation to offset rental income.

The lender required me to quit claim out of my LLC which I use for asset protection.

There really isn't a safe, secure way for someone to protect their interests.

So buying the right location will become increasingly important here to protect you in the long-termFood for thought.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

Looking for a gut check here because my CPA/tax guy is advising against dumping the brokerage account bc taxes, missed upside - but he also admits to not specializing in real estate asset/tax protection strategies.  

Often times the information is insufficient to really get good at it or protect yourself from the things that you don't know and thing that can get you into a lot of financial or legal trouble. 

If so the carrier has the right to deny any/all claims you make or if they want to be nice they will settle the claim and retro charge you the premium you would have owed having the proper policy in place when you started renting it out.Talk to a legit local agent and tell them what is going on and get them to run down all the exposures you have and what you could do to best protect yourself for the best possible premium.

I have looked for examples of landlords that were protected by their LLC and always come up empty handed.

(Don't quote me on this as I am not pulling it from the Bylaws) however; that means my job is not only to put on these meetings, but to also protect the membership and others from the predators that come to the meetings looking for gullible investors.