A knowledgeable attorney can advise here.Create a solid operating agreement: Since you own the condo with a friend, a clear operating agreement is essential to outline responsibilities, decision-making, and profit-sharing for the LLC.To save on costs:Look for real estate attorneys who specialize in investment properties and might offer package deals for the retitling, operating agreement, and filing the LLC.Shop around for title companies that can handle the transfer smoothly and provide competitive rates.Research DIY options for setting up the LLC if your situation is straightforward, though I’d still recommend a lawyer for the transfer process itself.Good luck with the process!

Would it be possible to connect to discuss more about the process of purchasing property as a military investor? 

We have only 2 criteria for the order we process applications: 1) nearest move in to the date unit is available to be rented 2) order that the completed applications are received.If we had a unit for rent that would be rent ready Jan 15 and have multiple applications, the application processed first is the one who can move in the fewest days after Jan 15.  

Ananth--if you used an attorney to process the eviction, most attorneys will also pursue the collection of judgements on your behalf, too. 

If you would like to avoid that process, then you can either close with a portfolio loan or DSCR, and just vest title in your LLC from the beginning @Lau Cor. 

Quote from @Michael Overall: Good day, If an investor has 10 rentals and wanted to over time sell them and put the money tax free from a 1031 toward a large purchase is there a process to do that? 

In that case, would the renting process be a bridge to help you retain the home for future personal use? 

@Michael Smythe Great processes Michael!

This aligns with my interest in passive income.I realize I am not cut out for the entire REI process of consistently finding multiple properties for particular exit strategies.

Since this is my first go around - I'd really appreciate advice on the following:- any references on lawyers /firms to work with to go through the Barment and foreclosure process without breaking the bank.- Ball park ranges - what can I expect the cost of this process to be?