@Fabriel EbelConverting a multifamily apartment into condominiums in Beverly Hills is a detailed process that requires navigating city regulations and tenant protections.

A revocable living trust is another option for privacy and asset protection.Avoid gifting the property before death, as this would pass the original purchase price as the cost basis, creating a large capital gains tax liability upon sale.If the property is Subject A’s homestead, ensure the correct titling to maintain Florida’s homestead protection for Subject B.This post does not create a CPA-Client relationship.

Can we be protected without a deed transfer?

This is because DSCR loans do not follow/ pass consumer protection laws. when you live in the property, it creates massive problems for this loan type and the lender which would issue it to you. 

Typically people only get insurance on things that they own, or liability insurance for their own protection. 

Since I am strictly W-2, would it be smart to consider getting my LLC in order to protect my future investment properties, and while also reaping the tax benefits of having an LLC?""

Flat out, I realize we're friends/family, but I need this lease in place to comply with laws that require things in writing and for my protection should there ever be issues.

We now are looking to create an LLC and setup the necessary legal documents to protect both parties and layout the terms of the agreement.

My business partner owns a roofing company but has weak credit and more limited cash flow.An LLC is a common choice for partnerships since it protects personal assets and simplifies tax management.

Forming an LLC for your rental property can offer liability protection, but no real tax benefit.