Overall, the complexity associated with assuming ownership of 1/6th of an existing partnership seems quite high (unless the LLC bylaws already provide a mechanism for transferral of ownership)?

Find a great agent (I have one).If you decide to partner on the deal, draw up a Joint Venture agreement, or a joint LLC with an operating agreement to make sure you both are protected, and what to do to exit the partnership. 

Make it safe, functional and pleasant and get some revenue flowing.

I switched to passive investments in large apartment complexes managed by experienced professionals, and after a few passive investments I started becoming more active and joining General Partnerships taking down deals with those experienced teams. 

Try using the search function on BP first to find one.

Having a CA LLC you will have the privilege of paying an additional $800 charge on your CA return, and you may also owe another $800 fee for both the Texas and Wyoming LLCs if your activity rises to a certain minimal level.If any of these entities are multiple member LLCs they may be taxed as partnerships and its my guess you will need some professional assistance for that.

Typically, somewhere prior to year 10, the total accumulated cash flow as a function of the purchase price has surpassed most of the higher initial cash flow areas.In addition, the property value appreciates (because over the long term San Diego always has but mostly because every metric shows that it should).If you desire you could choose to do it again (the final R).I am definitely not indicating that BRRRR is easy or requires no effort (it is not real easy and it requires a fair amount of effort). 

New investor here, closing on first short term rental on or around June 1st with a business partner. Have started the process of creating a LLC and was curious to know what advice folks have concerning the title of th...

A syndication and a partnership are completely different animals. 

A partnership of some sort may be a great option for you, even if its a temporary one.