Pro-rate the rent and save yourself a lot of grief from an issue you would surely lose.If they had purchased renters insurance with loss of use/additional living expenses this could be a covered loss for them.  

On top of that, while you live in the unit, you will not generate any income to offset your monthly mortgage payment. 

Additionally, did you go over with Anderson how the WY statutory trust is taxed in California?

Hey Michael, looks like you've got a few uninformed responses here so I'll provide you one from someone that actually invests in Detroit.I live in California now and have 12-doors in Detroit.

You might also want to talk to an attorney about setting up a living trust for your estate versus letting things go through the court.Good Luck!

I am trying to owner occupy one of the units and live in it for 2 years, but Im not sure on the rules after the 24 months of owner occupancy period is over. 

Ask them how long they've lived there, how they like it, and what they like most about the location and neighborhood.  

I live in the San Juan area and agree there are a ton of abandoned properties all over the island. 

My plan is to move out in two years after I qualify for the possible capital gain tax exclusion so then I can either decide to keep it for 3 additional years (or maybe longer, and forgo the exclusion)and move the home into a LLC.

**Additional Tips**: Any other advice or insights from those who have successfully set up and managed an LLC for their real estate ventures would be greatly appreciated.I want to ensure that I set things up correctly from the start to avoid any legal or financial issues down the line.