You almost completely disregard the "verbal acceptance," and push for the fully ratified contract, signed and delivered, by creating a sense of urgency that you feel is appropriate for the situation at hand.

"If your home is currently listed or you are a buyer represented by another real estate agent, please disregard this offer

If the LLC he is desiring is a single member LLC it is probably disregarded and he could sell in his name and buy in the name of that LLC.4.

If the first property is not a partnership and is just you, you can setup an LLC that is a disregarded entity such that it operates as an individual with just a SS# for tax identification purposes and then the LLC provides the asset protection and your new partner could do the same and the two disregarded LLC's could be the TIC owners and you have some level of asset protection. 

Hmm, unless Oklahoma has community property rights, disregard the above  post, lol.I totally thought you were in New Mexico!

A single member LLC (owned 100% by you), is disregarded for income tax purposes.  

Of course banks were closed but they could have paid Saturday or any number of other days the bank was open.So I email them and ask that if they have paid to disregard my email but if they have not, since rent was now late (I only accept rent deposited in a business checking account) to include the $25 late fee ($15 general late fee + $10 per day late). 

It will also clearly define you as the tax payer for the property since a living trust as you're anticipating is typically a disregarded entity.

If you are the sole owner of the LLC, then the IRS will consider it to be a disregarded entity and it will go on schedule E of your personal tax return. 

I probably spent more time on it than I should have or just should have left it at the architect's drawings because both contractors, disregarded a lot of the details.