The result is after a year when the tax accessor associates the proper property taxes with your property, there is a decent chance you could have payment shock and your monthly bill rises significant (until you pay off the escrow account balance that is also likely causing this). 

I like the TIC idea, although I would want to see my partners' Op Agreement to be sure.  

There were many bids, and hours of discussion over how to properly proceed once all of this had come to light.  

I love the idea of taking something that looks horrible and turning it into something beautiful.

Say 10 out to 20 to get the cash to flow properly if needed.4.  

Others might be fine with taking risk, but least by doing this a person can get an idea of what might go wrong.e) Legal document analysis: it will usually take a few days to go through the legal document properly, as almost inevitably there are tons of gotchas that either have to be explained, or mitigated with a side letter.That is the very short summary of what I do.

I have the rents coming in from Venmo go into one central account and then transfer them to the proper bank account corresponding to each rental.

You are changing the terms of the contract with proper notice. 

How to properly structure these deals as well as the process of closing them.

Thank you for the input - love your idea.