Need a broker to transact the deal and transfer the commission.

The plan is simply for him to transfer half ownership to me after we buy the property. 

depending on the country our mid west rentals are the same cost as they pay in transfer tax..they see our real estate as next to free.also they are keen on cash flowsecurity..

The location, house, and lot are all prime so I'm confident I can get my price either way.

Your parents could do a "gift of equity" of up to $250k, I would suggest making that number closer to $230k for GOE (to fully max it out,) this way you could also include $20k of sellers assist to payoff those Title related closing costs, as Property Taxes are typically waived for both parties between family transfers.

Amazing,, first download the landlord tenant laws for state of Texas so you know what to do.What did your purchase agreement include, did the security deposit not transfer over to you that she had with the previous owner..??

Thanks @Scott F.I use wire transfers in my investing, too.

It's a hassle for me because I expect a certain amount of money each month and when I don't get it, I have to keep transferring funds from another account to meet the minimum balance so I don't have to pay fees to my bank.  

You would ask your attorney to transfer the title over to the LLC.As for your tax question, currently an LLC can be treated as either a partnership or a corporation.

By going route, we save 2% transfer tax, I leverage my empty rental to sweeten the deal, we avoid holding cost and closing costs on the purchase.