In a perfect world an assignment (like @Chris Seveney suggested) would be recorded with each transfer of the note but in reality that does not occur.

And it should be a perfect job or the rent is 3200 a month.

Perfection is not a place, it's a process. 

But, I thought your comment was perfect to point out that while the amount of money risked is smaller, it is almost guaranteed to be lost when buying these price points in these locations Turnkey.

Starting small with solid fundamentals and not waiting for the "perfect" deal was key to getting started.

I completely agree with the advice and I'm perfectly okay with not charging him rent.My concern is that by treating this property differently from all the other units in the Series LLC, I may be opening myself up to a situation where I'm weakening my LLC protections even if I keep the financials separate and in order.

Or any tips for mitigating risks when market timing doesn’t align perfectly?

Maybe it's just me though......But you don't have to have your equity working for you perfectly every second of your life.

That's perfect! 

Hi Mike,I don't know the specific answer to your question, but the dirt cheap bare minimum 'online' brokerage that I've seen a lot of people use, after spinning their wheels and doing a bunch of research, is these guys.To align expectations: you get what you pay for, which in your case may end up being 100% perfectly fine.