The LLC would own the property, and you could outline each partner’s equity share and responsibilities in an Operating Agreement.

Purchase price: $273,000 Cash invested: $60,000 Sale price: $375,000 Purchased the property with a "subject to" agreement, did a cosmetic renovation, cleared outstanding condo dues, and resold the property.

In twilight's grip, you hold the key,Yet ownership eludes decree.Payments made along the way,Until the final due we pay.An agreement shrouded till the end,What shadowed deal do we attend?"

I'm in full agreement.

Using an attorney, CPA or a 3rd party as agent is smarter.2) Having an Operating Agreement---Without one, you don't have a viable LLC and highly likely a judge will set it aside.3) Buying a property in your name to get a FNMA/FHA/VA mortgage, then transferring the property to an LLC via QCD. 

It'll require technology and different inter-state policies in regarding the agreements of sourcing.

Most agents have you sign an exclusive listing agreement with an end date.

By accepting this payment plan for so long you may have created a situation where it is considered an agreement between you and the tenant to pay this way.

@David GeorgesonYour PM is not responsible for this and I can pretty much guarantee you their agreement will state this.Unfortunately you as the homeowner are at the end responsible and I would notify your insurance company to put them on notice to file a claim depending on the damage.

The duty here would be created by virtue of any agreements they entered into, rules posted to follow, or by virtue of instructions given to them to operate the washing machine.