As a landlord, I've great respect this individual and have treated him very well.

Hi Lin,Happy Trick or Treat weekend! 

Planning to treat the LLC as a partnership where I will sit as a GP and create another Blocker LLC Corp that will be treated as an LP.

This has nightmare written all over it and Halloween Tricks-or-Treats are supposed to be over!

Keep that in mind as you'll want to treat all the tenants the same instead of potentially raising one persons rent more than the other. 

I learned the hard way and from others, this a legal contract and if they are not upholding their end you need to treat it as such.

We need more enforcement of current laws, not Big Brother laws that treat everyone like criminals.

With delayed financing, you can get a mortgage that's treated as purchase money financing after closing so long as no lien was put on the property during the purchase.

There is a unique tax deduction in the US called a “conservation easement.”It was designed by the IRS to encourage real estate owners to make pristine land, that could be enjoyed by the public, a conservation ground, and thus un-developable.In return, the landowner could treat the act of granting a “conservation easement” as tax-deductible.

Treat it as such.