The family member is the only trustee. 

The low price of the land and the fact that it is right next to commercial development would be red flags for me.  

If transferred from LLC to child then the property would be re-assessed at current value and would not qualify for Prop 13 protection.

So, after almost a month as a member, I am getting around to my first forum post.My name is Lucas and I live in a small town in Iowa.  

I have been a member here for a little while and after @Brandon Turner amazing webinar this past week I decided it was time to become a pro member. I

@Jennifer Petrillo, usually if it is Female owned business you can get favorable loans and help from the SBA, there may be other government benefits as well.All the LLC's i filed are single member, i have one that at the time it was formed, there were 4 of us as Members,  i had my lawyer draft everything. i am not sure if there are instructions for the sites and i do not want to steer you towards the wrong thing, best you check out the sites and see if they explain how to fill out what you need.

Your family member is also your cleaning person, maintenance guy, public relations manager, and your property management service. 

Tenants cannot not always be relied on to turn on the bathroom fan when they bathe.  

Thus, we were a little over all-in.going forward everything depends on how many tubs end up needing to be re-surfaced.

This assumes the mortgage company allows the loan to be re-casted