Now, you may have VERY legitimate reasons for formulating the path you outlined above and if those plans are founded on valid truths, there's no reason to change.

I would check the local housing guidelines,and what the current lease says, but in some  cases if you inherit a tenant with a valid lease,  then you can't  rent increase until it comes time to renew the lease next year (unless there is a clause in  existing lease reference change of ownership 

@Jake BeldenIf you quit claim deed a property, there are no warranties and should invalidate your Title Insurance.

CASH will be the story All valid points, and I think you're right.  

Down payment and closing cost- $0 for now unless the bank tries to have us refinance this into a new loan after COVID later this year.Rent - $2200 (rentometer)Taxes and CDD fees - $6000 annualHOA - $165 monthlyInsurance $100 monthlyRepair/Vacancy/CapEx- 5% each (can I go lower since this is a new build and has home/appliance warranty?)

You may find this amusing and validating. https://en.wikipedia.org/wiki/Streisand_effect

At that time he signed off on a hand-written warranty for parts and labor for 10 years. 

I appreciate your validation of this sentiment.  

@Shalin PatelPartnership's are great in that you can be very flexible with allocation of income between the partners/members.However, there has to be substantial economic effect for the partnership allocation to be valid. 

Actually, first, a quitclaim deed transfers title with no warranties.