If someone enters their property with a key and you failed to change locks after taking ownership, you could be liable for what happens.

This is one of the reasons I usually tell people to not transfer personally financed properties into an LLC.

@Will Stahl The debt service coverage ratio (DSCR) loan product were designed for exactly your scenario. 1-4 unit properties are eligible, LLCs ownership, up to 80% LTV cash out (though I'm seeing most borrowers choose 75% LTV when they decide on rate), 30-yr fixed rate & term, rates in the 4s.

Leases transfer to the new owner, so the tenant would be protected for that term.

The first year of ownership - whether a newborn animal or a rescue - is the most likely time for damage to occur.

However, transfer taxes can be quite expensive upon purchase / sale. 

However, I had a few months of vacancy and in order to pay for expenses I transferred money from my personal bank account to my business bank accounts.

the whole point of this system was to support home ownership, not rei.Or, maybe you are asking about having condos that are cleared to have FHA loans?? 

This is why he said he wanted to do a trade instead.Has anyone ever come across anything similar to this, where a seller would rather trade a property through some sort of transfer deed, rather than an out right sale?

If they partner up, the division would be that the Cali guy puts up the down payment money, the flyover guy would be the hands on side of things as they would purchase a property in the flyover guy's area.What would be a reasonable way to distribute ownership between those two?