If you already have existing property and transfer property to an LLC, then it could trigger the due on sale clause the bank.

Deposit rent into checking account, transfer excess funds into brokerage account, make money. 

They collect EMD from multiple potential buyers - then transferred the EMD into an interpleader accounts in hopes of absconding with all the EMD. 

.- Cities like Toronto will levy another tax (Vacant Home tax) equivalent to 1% of the current assessed value of the property if the property is not occupied (rented, owner-occupied, family occupied, all count as occupied)- Land Transfer Tax: while the Province of Ontario charges anywhere between 0.5 - 2% of Land Transfer Tax when your transaction closes, you should expect to pay this amount twice if the property is in the City of Toronto .

Property Transfer TaxOne of the key costs associated with purchasing property in Germany is the property transfer tax, which ranges from 3.5% to 6.5% depending on the region.

No good will that the former landlord created will transfer with the property.

For example, Columbus or Huntsville, AL has come up a bunch of times but I’d have to transfer.4.

Here is their description and note site Their terms state: "With whole note investments, the investor transfers the complete loan amount and is the sole owner of the 1st position on the loan.

Then you own the LLC and can transfer the property into it.If you transfer the property into that LLC the way it is then technically you just gave your friend ownership of the house proportional to his ownership of the LLC.I'm not an attorney, so take that with a grain of salt.

I agree with the others here that say you need to have some skin in the game, if you are going to live there yourself, get an FHA loan rather than owner financing, you can get a 3.5% down loan, personally I do not love these as they require  PMI which is an additional expense, and you also need  bring additional funds for closing at least for taxes, title, attorney and transfer fees . borrowing from anyone else for the down payment, to include a personal loan from the bank is not a good idea, those again will be higher int. rate.