As you probably read through the comments on this thread, there are many moving pieces, costs, and folks involved in this transaction. 

An Excel file or other detailed record-keeping system would okay, as long as it accurately tracks your hours spent on real estate activities.

I hope more lawsuits will be filed. 

Maybe all of the investors should file a complaint with the Florida Attorney General - https://www.myfloridalegal.com/consumer-protection/consumer-...

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

These structures are significantly more complicated than a typical 1031 Exchange structure and there are inherent risks involved in the transaction, some of which are discussed below.

If you gift your share, it may trigger gift tax filing if the value exceeds the annual exclusion ($18,000 for 2024 and $19,000 for 2025), though no immediate tax is due if under your lifetime exemption.

As far as your primary residence, if you have lived in it 2 out of the last 5 years, you should not have to pay taxes on capital gains (difference between what you paid for it & what you sold it for) up to $250,000 if you file your taxes as an individual and $500,000 if you file jointly with a spouse.Just a disclaimer, I am not a tax professional.

That was right up until we started purchasing rentals.We have an LLC so we actually pay $400 per year for our LLC to file and then another $150 for us to have our personal taxes done. 

@Morgan VienCalifornia is generally more cumbersome than other states when it comes to taxes and filings.