Also, would any transfer of ownership or closing of the LLC trigger a mortgage due on sale clause? 

Proc. 2002-69 and 2002 C.B. 831, a husband and wife who are the sole owners of an LLC and reside in a community property state can choose whether they are treated as a partnership or disregarded entity.

Worst they can do is say it will trigger the due on sales clause.

Hey Stephen, just wondering if you were able to pull the trigger on this deal and if you would be willing to share details?

So our partnership is limited to the new construction for the foreseeable future.My goals for 2020 aside from that are:1) Find a multi-unit building in Chicago to house hack. 

So our partnership is limited to the new construction for the foreseeable future.My goals for 2020 aside from that are:1) Find a multi-unit building in Chicago to house hack. 

In addition, the LLC will now be treated as a partnership for tax purposes, which will have tax filing obligations. 

Are you thinking of combining funds as a partnership, or would they be simply a lender? 

In a limited partnership the "general partner" calls all the shots.. 

Would love some tips when it comes to pulling the trigger and buying that first property.