Thanks Andrew Yes we are in ACNJ most of our properties are in AC but do have a handful in Ventnor and other shore towns. 

Transfer from personal name to LLC/Due On Sale ClauseIf one is transferring property title from personal name, a Grant/Warranty Deed would be drafted/recorded to transfer title.

On the other hand, pros include increased cash flow, engineer-based data for the clients CPA, audit protection (with the right firm) and the ability to deflect that recapture fee with a 1031 transaction.

I would love to partner up to see how things work and get some real on hands experience with someone who knows a few ins and outs.

Very difficult to be successful with this program when buying in these lower tier markets unless you are hands on as you say and yes, scale is necessary to achieve efficiencies.

They’re a great way to generate passive income with minimal hands-on involvement.Looking forward to hearing more about your goals!

I was in a leased building, counting on a hand-shake deal to buy the property in the future.

@Rebecca Knox - Do you find the deals yourself and then hand it off to your PM?

They would get that $500K tax free and the rest of the tax would be deferred in the 1031.A very elegant solution that puts $500K tax free in their hands now. 

North Hollywood has a handful of 20-50 unit communities structured as co-ops.