I am sure properties on the water have lots of potential. 

Reason I am moving to LLC is to take advantage of getting Business Line Of Credit later

Besides the  depreciation,  tax  benefits that I would get if  I was renting to him are there there any advantages on co-owning instead of  me renting to him?

If they are satisfactory, implementing the changes I’ve suggested could take them from “good” to “excellent.”Conclusion: If you’re advertising on Google, make sure your landing page is always up, running, and fast.

It has so much traffic and popularity just 2 hours of being placed on Zillow.

If a property owner stops paying on a note the lender just “takes” the property3.

And you could also do a 1031 exchange on the rest. 

However, the money needed to start real estate investing depends on several factors.

I think you're spot on here.

So many of us have a lot more on the plate and get it done.