There are five reasons to renovate a property:Attract the right tenant poolIncreased rentDecreased time to rentIncreased tenant stayReduced maintenance costNotice that I said “the right tenant pool.”

Just transferring it gives you zero protection - the reason why it never comes up is because no one can name ways you get sued when you have a good insurance policy so its a mute pointSo long story short, you are wasting money transferring it to a LLC is my personal non legal non tax opinion.

what is the reason they are behind?

@Brittney Yang first red flag is it doesn’t sound like he’s that interested in long term holds but the primary reason for partnership is expertise in renovation and secondary reason is balance sheet and income to help get financing.Regarding reason one, I would offer to compensate him for his time in assisting you and have a very clear scope of what that responsibility is.  

This was the single reason for their failure and could have been prevented, even during the GFC.

Second main point: Avantstay has excellent systems to find guests who will treat property and neighborhood responsibly.

The property, though is not beach front, nor does it has ocean view, is just a short drive from some of the best beaches in the west, which are great for surfing, snorkeling, SCUBA diving.In the 1.21 acres there is a main single family home (4 br) which was divided in two sections one of which is being rented.

I mainly bought it for the land, do not intend to rent it out for cash flow or what not.It is currently occupied by the previous owner.

Fees were reasonable.

Here are 5 reasons why taking part of a good deal is ALWAYS better than 100% of no deal.1.