Hi guys, my friend and I are brand new at this. Would appreciate some guidance:- Last fall, we bought two single family homes. - We took title in our personal names.  - Since then, we've formed an LLC.- We're now read...

While we all would rather be able to trust people, I've seen situations where not-so-savory tenants and real estate flippers are able to explain financial issues in their backgrounds to the landlord or investor's satisfaction - bad partnerships, spouses, roommates, things like that - just to turn around and run off owing large sums of money.

There's always a chance that you could trigger the due on sale clause in your mortgage contract although I think this is pretty rare if you search the forums.

The owner is willing to sell the LCC as 1 measure but there another way like transferring the properties between LLCs that won't trigger a reassessment? 

I might sound stupid but I'm REALLY green still, especially when it comes to partnerships.

His girlfriend who lived with him was hospitalized and died a few days later, triggering the depression.Had to go out and find a landscaper.The landscaper I found and now used live a few blocks away, does landscaping for my neighbors as well, and if he didn't do a good job, neighbors would let him know directly.

Sure, but there are a lot of potential pitfalls and you'll want to tread carefully as, if you don't deal with a bank who is fine with it or if you don't check your paperwork you can trigger a due on sale clause.

There is always going to be some form of risk involved just have to weigh out the pros and cons of it all and pull the trigger and learn from it.

@Brody NelsonAn LLC with more than 1 member may require the filing of a partnership return.

I have investors that are very detail oriented and organized that are starting out and can over analyze deals so much that they will never pull the trigger on a deal.