Below is a list of the most common record statuses and their meanings: Deed: This document shows the transfer of ownership from one party to another.

Yes, you can use the paid-off house as collateral without transferring it to the new LLC.

Expect to pay transfer taxes based on the properties assessed value plus deed prep and recording fees when you make the transfer.

TurboTenant does digital signatures for leases and other documents, condition report templates, automated and one-time ACH transfers, chats with tenants (so there is a record... just in case), and lots of other great stuff.

So if I transfered all of it into a rollover ira, then I could use the entire amount I have currently as tax-free towards a first time buyer loan?

If I give sellers $100 from rent proceeds, it'll drop to $350 monthly.5) Do I need just a promissory note for both of us to sign and deed transfer document? 

My uninformed opinion was that 1031 allowed for the deferral and transfer to the new property.

My plan is to transfer my money from my personal account into my LLC savings to make my housing purchase.

@Logan Berry, a quit claim deed doesn't make something "worthless".A quit claim deed transfers any rights to a property that one person has to another person but makes NO guarantees about what rights that person had to begin with or even that they had rights.

I will post my story on here... it resulted in a more than 8000 loss... and water bills which were not paid, and which Northpoint was supposed to assist in transfering to tenant's name.