Seems like it might be different since the deed never is transferred into my name. 

If so, how would I transfer the properties from the current LLC to the new entity? 

I put $1 purchase price on the first one and sent it over to my title comp I was told this will make the transfer tax subject to the county assessed value since its such a low price how do you get around that? 

.. to hang my license with.i'm not a newbie, as already have ~15 yrs experience in sales & leasing back in NYC, but that franchise isn't here on the west coast to transfer to.already know what to look for that suits my needs (low monthly/desk/misc fees and a decent split, as 75 or 80 is what i'm used to!)

Sounds like more trouble than its worth to  dissolve or transfer his share to me.Think it would be easier to set up a new LLC in my name for 200.00!

If the properties are not purchased yet should I create an expense account for each cost and then if the properties are purchased transfer that cost to the property cost?

You may not want to rent the homes, sell them (on terms) or for a very low price and transfer title. 

Im curios to know so that when I talk to a seller I have a better idea of what its worth based on these numbers and area comps.Base valueland: 128,200      improvements: 161,500     total: 289,700value as of 1/1/15land: 128,200     improvements: 259,900     total: 388,100Phase-in Assessments:as of 7/1/14     total: 289,700as of 7/1/15     total: 322,500also under the transfer information:seller: bobtype:  (one of the following) NON-ARMS LENGTH OTHER       ARMS LENGTH IMPROVED       ARMS LENGTH MULTIPLE  I am not sure what these mean regarding the property.Thanks

When we are transfer we rent them out.

Would you be willing to release them from the lease if you don't have another unit where they can transfer too?