Could it just be as simple as an assignment through title to get the property into her name?? 

If you're looking to stay passive, I would keep it simple.

I wasn't looking to be spoon fed, rather just asking a simple question.

Let's use the 50% rule and get to $3,750Use the 1% rule and we get to a purchase price of $375,000 each.Now the simple multiplication of $375,000 X 4 = 1.5MSoooo, head ache and paint of 30 lower end (B/C class) tenants or 4 higher end tenants ($375K in DFW are very nice houses in good neighborhoods)?

The forms are fairly simple and can be done online (scanned/mailed).

And if the losses were recorded and used/captured during the hold period then the LPs will still pay more taxes than saved because depreciation recapture is taxed at a higher rate than long term capital gains rate.I don’t think real estate investing offers any unique tax benefits (except for people with REP status who are slogging their a$$es harder than W2 employees, which doesn’t necessarily mean they are earning more), though it definitely offers some unique tax disadvantages.

She is holing 51 percent of the company for credit purposes on paper, but will maintain as a silent partner.Our initial idea was to Refi her primary residence to capture the existing 140k of equity in the home and to take that over to our new LLC as starting capital.We have hit a months long snag with the bank who is requiring a co signer as the only way to move forward.

The best way to explaining this is for you to download an IRR calculator spreadsheet or build your own simple one and play around with one.For what its worth most deals I deem meeting minimal IRR standards is 13-15% but you have to dig a little deeper to uncover the real placements of cashflows and capitalization events... and then dig even deeper to verify the assumptions such as occupancy, rent increases per year, and what reversion cap rate was used.Again I don't look for IRR cause its manipulated a lot instead I look at total return on a 5 year basis.

I might be wrong but simple invoices to keep track should be sufficient. 

Reaching out to locals and finding a way to provide value (it could be as simple as offering to take out the trash or answer tenant phone calls) in exchange for some of this intel could be a good way to go.xAlso, I personally created a few deal analysis spreadsheets that you can find here that will give you a highly accurate and adjustable deal analysis.