Our partnership agreement is that we both are responsible for the everything, 50/50.The question is, How do we put the title into an LLC, legally so the bank won't be able to call the note?  

Matthew Jurica I will be grateful forever that Dave Ramsey's book pushed me to get out of debt and get my finances right.Keeping that in mind, I found myself lost when he encourages to invest in the stock market.

If so, is there any legal advice I could benefit from as we ensure our business plan, legal aspects are bulletproof?

Getting the license makes a lot of sense now.I will tell you that there has been a number of occasions where disclosures were not given to me, especially the Agency Disclosures.In fact, one Broker was representing both the Seller and myself just recently and I never received the Dual Agency Disclosure.Another problem I see is in the case of a building that I bought over 6 years ago which is past the Statue of Limitation for Real Estate lawsuits, the legal use of the property was mis-represented by ALL parties, including the Agent, the Broker, the Appraiser and the Attorneys.

Too many other debt sources without the red tape to deal with and expensive legal costs to close the loans.Credit union, bank, Life Insurance, Pensions fund, Private investor loans etc.

So, choose your partner carefully, get educated on the rules, don't do this without the guidance of legal counsel, and make sure it's done right. 

Upon purchasing this property, I have a contingency that the city must recognize the house as a legal three family.

However, if servicing our own note introduces a legal minefield, we'd need to know and reconsider.If anyone has any insight, I'd appreciate it.

Find out what they will lend and walk through their preapproval to make sure there are no red flags with you (debt to income, credit score, etc.).There is always risk.

However, it isn't even legal in some states.