James, The building was left to me by my grandfather who had owned a pretty large theater (1400 seats) from 1925-1949 and bought this building but when i took over ownership about 10 years ago it was a mess but fully rented I used this building to parlay this to many other properties and now was able to move everyone out rehab and reintroduce the building much higher rents and it will be very high profit but way down the road after i spent what we did for the last year.

You won't have to put any money down because you're never taking ownership, and the money of the investor you assign the contract to blankets the entire transaction (buying the property and also giving you your assignment fee).  

The ownership the sponsor would get for his capital would be in addition to the ownership as the sponsor.There are many ways to cut up the pie.

I am not a Lawyer and this is not legal advise.I think that simply notifying your tenant to the change of ownership should suffice.

I did all the convertion myself BTW, lawyers wanted thousand  if not 10 thousands for converting to series LLC.The reason most banks won't do this is because you can sell your interest in an LLC, thus changing controlling ownership of the property without changing title.

From a financial standpoint for most new people, it's definitely more economical to get a license vs having the cash to take ownership (although w the junk I've dealt with this month, a homeless person can nearly buy it).

You buy a fractional interest for less than pro rated value of a property as a TIC has a lesser value in ownership.

Part of this has to do with real property tax and ownership data.  

When an owner can't sell the whole shooting match, this gives them an exit.Accounting wise, the first year you carry your asset at cost, but since fractional interests are less valuable than a majority interest or equal interests after a year you can adjust to the fair market value claiming the percentage ow ownership, in other words, real equity.Even with a minority interest you can take full charge of ownership duties, including the power to sell!

The key is in the partnership agreement and to create a joint ownership without said agreement (sigh) is just mindless.