It reflects poorly on your respect for other posters on this forum and those in our accounting profession.  

I'm worried about the liabilities that could come with this before I establish my LLC in the future.

I think it comes down to trust and mutual respect.

How else are you tracking each partner's outside basis in their respective partnership interest and the partnership's inside basis in its assets?

Haven't heard anything yet about state or local government ceasing the ability to collect rent but I did see that the City of Los Angeles has established a moratorium on evictions due to COVID-19. 

We’ve established ourselves with our *lender to the point we have maximum exposure limits as well as a fix & flip LOC to help with the BRRRR and flip aspects of our business.

I wrote a BP blog post that goes into more detail on my thoughts on the immediate and medium term future:8 Coronavirus Pandemic Predictions (for Non Performing Notes)I've seen differing opinions from other note investors I respect so I know not everybody will agree with my predictions.

I tracked it back to confirm the last title transfer occurred at the same time the mortgage was established.

With that said, I quit shortly after joining (about 3 months) and joined a well respected financial advisement firm in Springfield, IL who only charges 0.5% to all clients, not just the super rich.

In order to pay off the initial debt, I have considered a few personal and commercial refi options that all require about 25% as a down payment, based on the respective LTV stipulations.