I don't know what area you're from Freddy, but I am sure it looks alot better on paper.

If i am not mistaken, i can just Quit Claim Deed the property to the individual and sign a simple sales contract correct?

We need this additional paper from you and we need it back today.

This is what i love about BP, you ask a simple question and you get all this great feedback from seasoned investors.

Let's keep it simple.

I'm assuming a sub let would allow me to profit on the monthly pmt where as a simple assignment or transfer would NOT allow me to do that?

Your target tenant will probably have kids, lots of stuff to store in the garage and such, too.Personally, I like neighborhoods that skew with older demographics; people I can buy from with paper or from their children or even their heirs.

I went in 50/50 with my father on a duplex, and we put that into an LLC, but mostly to put our ownership rights/responsibilities to paper - I was uncomfortable with the partnership business form.

However, have enough experience in this department.Put together a simple letter stating that you followed the terms of their constitution.

So far on paper with me doing most of the work with a few "swinging hammers" I could get nice return.