I could see issues coming up if you have them sign paperwork/submit a deposit to hold, and the contract falls through.

Being pre-qualified is really big these days, as good as cash, and you don't want somebody to snatch a good deal out from under you while you're still filling out the paperwork!

All owners over 20% will have to at least complete beneficial ownership paperwork.

I have 9 properties with 20 doors, have been in the trades all of my working life and am ALWAYS behind on paper work.

@Steven W.Do you have the paperwork showing new ownership and explaining the situation?  

THE WAITI had to wait for the paperwork to be filed...that was another 45 days...this took us smack dab into the pandemic of 2020.

Not sure how to do legally and with proper paperwork.

I guess that's the goal but I think anything that gives you a better grip on maintenance/CapEx/appliance costs and planning helps a lot.4) Paperwork - Right now, this is your best defense as a landlord, this means properly executed tenant paperworks delivered in a time, method and manner specified by the local authorities (which sounds totalitarian). 

@Chase Hoover just make it clear to that agent that you are representing yourself and you would like a 3% discount off the price because they do not have to pay a buyer's agent, if you just need someone to walk you through the paperwork that is one heck of a lot cheaper than 3% of the purchase price in most cases. 

Based on our conversations with attorneys and other investors, the LLC would be more paperwork, moving things around, add the expense of $800 (California) per year when the the cost to gain a much larger umbrella coverage for $200 a year.