I've been advise this is necessary as an additional layer of liability protection, and an important consideration in structuring an asset protection plan.  

All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.

@Adam Boonzaayer keep in mind that from a banks perspective, $100K isn't really considerable assets.

I'm not sure you can cashflow buying a new home for $500K not sure if that is a consideration.

If you haven't looked at Union City, JC Heights or West New York, you should.

These things are irreplaceable and making the extra effort to keep these safe will show that you were truly considerate.  

I have folks in my network that are afraid to take action and that is the only thing preventing them from reaching their dreams & goals.I will say this though...something to take into consideration:  You should have no emotional attachments to investment properties.  

Does it give considerable access to property information?

Meanwhile, the house or rental is up in value (maybe even 50-100K).... the rental maybe even paying you monthly...You just got the basic lesson in appreciating assets.... buy them (the ones that put money in your pocket) not the ones that take money out every month.The little place we sold in 2004 there in Stockon had tripled since the early 90's (granted it was the height of the bubble) but even modest appreciation will get you there...Stay away from the quickly depreciating items (like nice cars) if you can early on in life.

By doing that we would have lost about 150 ft.² of living space and our ARV would have dropped considerably.