You could get them to transfer the deed over to you, and then you can rent it out.

Did this really happen or a scam?

I can tell you how it works in my state and the general (federal) tax concerns.The partnership (LLP) would need to agree to transfer the property to you or an entity you own (such as an LLC) under terms that wouldn't equate to a gift.

The successor landlord shall, within 14 days from the date of such transfer, notify the tenant who made such security deposit by delivering or mailing to the tenant's last known address that such security deposit was transferred to the successor landlord and that the successor landlord is holding said security deposit.

Hello everyone;I am a twenty seven year old college student; nearly finished with my associates in general studies, soon to be transferring to the UofM.

Our attorney who did our closing on a property with tenants, used the leases as a basis for prorated rent and security deposits and transferred the deposits as part of the settlement.

After closing, he will transfer the SFH to an LLC where he will hold 51% stake and I will hold 49% stake.3.

I definitely think you have a lot of skills that will transfer over well into your real estate investing. 

The Invalid Sale doesn't refer to the actual sale/deed transfer....it refers to the indicated price for the transfer, not being valid foe comparable taxable value computations by the tax appraiser's office.

We got started buying personal and turning them into rental when my husband was transferred.