Generally, the land trust works best when you hire someone else (like an attorney) to serve as trustee to retain the anonymity factor. 

It depends on the situation.... if retained by the Buyer I owe no duty to the senior lien holder (at least in NC) 3,4,5 A concurrent transaction is one in which the seller in one transaction is buying a piece of property in another transaction usually in the same day.

Also is the basis for taxable distributions retained earnings?

Trying to sue somebody you don't know (not have the name of) is going to be a bit of extra work for your attorney and the retainer fee will probably reflect that, especially if you're coming with a weak case and asking them to work on contingency.Bottom line: Don't be the low-hanging fruit.

Is it possible using an LLC structure for buy/hold where I purchase the property and retain 100% ownership of the LLC but have a partner member(s) that I spit profits with on a percentage basis?

@Kyle Doney Yes you are correct it depends on the municipality, but generally speaking any time you open up the walls to do anything you need a permit.Here is a list of what we have needed to pull permits for on past projects:Electrical, plumbing, moving/removing walls, new roof, decks, patios, new furnace, hot water heaters, install fence, new driveway, new siding, new windows, retaining walls.If your not opening up the walls and just replacing the finishes in the house generally you will not need a permit.

I retained 100% equity stake and still had enough for cashflow using 90% OPM.

I met with the attorney the judge so strongly suggested the next day and paid a cash retainer up front according to his demand.   

In the mean time you can put the property in a trust with retained powers and save both in gift tax and capital gains tax.

You call and tell them you need to file a claim Mrs Bad Choices sideswiped a parked car and hit your retaining wall.