Understand how the taxation works and get professionals involved for all areas where nobody in your group has expertise whether that's law, taxes, etc.  

Another reason will be taxation, and it will be more benefits by using LLC than personal investors.I hope I can get some professionals advice here and look forward to having discussions with you.Best regards,Frank

I have a background in residential carpentry, taxation, and personal finance.  

The best way to transfer property is to inherit it if that’s is an option.If networth is more than 22M, estate planning needs to be done to minimize estate tax at the end.If the goal is not to go probate because your state has high probate fees, the assets need to be either titled as joint ownership with survival clause or needs to be in the trust.  

@Donald Flynn This is a specialty area of taxation.

But, you need to separate the accounting / taxation from the legal aspects. 

Read about being a landlord, read about rental property taxation, read as much as you possibly can and you'll be well on your way, my man!

It means double taxation (taxed once at the entity level, and once again at the individual level when distributions are made). 

Question- did you resolve the double taxation situation?

I'm getting conflicting information so wondering what the experience of those here in NZ who receive rent, and those here in NZ who have rentals in the US and elsewhere like @Dean Letfus, and what the taxation looks like for them?