That way when you have lower maintenance and turn over you will have a great asset.

This opportunity came recently and I’m looking for the best way to go about obtaining it now because it will not last long.

I know a couple guys in my home town that served 5+ years in a federal prison for this.If you're moving ownership into a land trust that you also control and have no intention of defaulting or selling and avoiding the payoff, it could for sure be argued as positive fraud, but the intent would more likely be for something like asset protection or some kind of investment arbitrage - which could still be fraud.  

You have an asset that in 5yrs time will be worth more (in theory) and you can always go to the bank to lend against.Plenty of wealth in Chicago so if you buy right you should it should set you up for good appreciation growth.

In the name of, what, asset protection you have incurred a bunch of needless risk not even counting the DOS clause.Don't put little houses with debt into LLCs is my opinion.

Rent your house, keep it as a separate entity from the marital pool of assets and share the rental profits with your intended.

Child would like to buy the house, potentially for below market value, retain the original real estate tax basis and then parents would like to use the proceeds from sale to complete a 1031 in order to defer capital gains.I can see a few potential issues:Does the fact that parents converted it to a rental from primary residence cause a problemIs a purchase below FMV possible or are there 1031 ramificationsIf below FMV a bad idea, could some sort of non-interest bearing note be structured between the parties to make up gap between proceeds and FMVCan 1031 exchange property they identify be contributed into an LLC after closing for asset protectionAny advice on the structure outlined above, or other ways to transfer real estate from parent to child (while parents still living) would be greatly appreciated.

And then buy houses if you want to be a landlord or invest in a number of syndications (in a different asset classes) to ensure you have a diversified portfolio.

single member LLC offers little to no protection.LLCs have other benefits but asset protection for a single member LLC is not one of them.just get good insurance.. that's what you really need..

So if you can obtain a private lender's cash in an amount you will be making bids with ahead of time, go for it.