Your new PM should then facilitate most of the other paperwork such as getting keys and transfer of deposits.  

If ops account his a particular size I transfer some out to my money market account st the same bank.

No firsthand experience, but every time I've seen this question come up the responses indicate that for a few small units LLC will not protect you better than simply adding an umbrella policy to your insurance while being more complicated and expensive to maintain.Also many snags to consider such as banks not likely to finance residential property to the name of an LLC, transferring to an LLC later can trigger a due on sale clause in your mortgage, if you mix personal funds and LLC funds to pay for something you can negate all legal protections.

One partner has proposed the following and I want to make sure that from legal and tax perspectives it all makes sense and is legit.. 1.Form an LLC where three partners would each have 1/3rd interest.2.Transfer the property (title) to the LLC via quit claim deed for some price/consideration3.He would buy our shares/interest in LLC so he ends up with 100% ownership4.Mortgage would continue in my name and I would remain the Garantor (he will pay me some fee each year to keep it in my name).

@Madeline jI would continue to maximize your 403b contributions but keep in-mind that you generally won't be able to transfer those funds to an IRA until you either stop working for that employer or reach age 59 1/2. 

Since I am the principal broker I am not giving away half to some company I am hanging my license with.I am on internal systems for first looks because the brokerages know I screen my buyers upfront and look at financials.

Rent will be paid by electronic bank transfer from tenants account to the account of  Landlord at Bank, account number XXXXXXXXX.  

Louis and transferred my license when we moved in August.

But as I mentioned, to transfer it (at least in Cleveland) They require a VERY large deposit for whatever reason.

Some are incredible homes of old money auto execs that can be purchased for a steal... or intern literally broken into and all of your stuff stolen.