Hey @Tony Thomas, I won't speak to the tax side (not a tax pro) but from a bookkeeping perspective, this will complicate your operations (and, bookkeeping as a result) quite a bit.So, ensure you have super powerful incentives from an REI-savvy attorney and an REI-savvy tax advisor prior to making this move.Some of our Clients have implemented this in the past (prior to working with us) and their businesses weren't large enough to justify the complications that come with this type of structure.Hope that helps!

From a tax perspective, having two members in an LLC will generally cause you to file a partnership tax return which is typically more expensive than if you were to go SMLLC route.

@Raymond Keith Whittington Networking and talking with everyone you can from a perspective curiosity and how you can add value for them.

I appreciate all the perspectives.

Any guidance, thoughts, perspectives would be greatly appreciated.

Your background as a Family Physician, investor, and licensed realtor provides a well-rounded perspective.

Regarding risk my perspective is that it is much lower than typical common equity deals in that there is a 25% cushion re valuation drop before the pref equity holders would be impacted.

@Brian Scott From a tax perspective, converting your entire property to rental units comes with several benefits.

In my experience, section 8 tenants can be a real pain and should be vetted more from a holistic perspective than from a traditional quantitative perspective.

Going to a meet up is good you can get the local perspective from other investors, but eventually you will need to take action.Depending on your goal you could partner with someone who has done it before or find a team that can help you.