Consult a CPA ,but S corp ownership for IPs is over complicating the deal.

We are happy to transfer that earnest money and certainly refund it if we can't find an additional property that meets your needs.  

I'll walk you through the depth of commercial/mf property and ownership data we have available on our platform.

Property: 4 BD / 2.5 BA 2-story HomeOnline Value: $284k (Z: $292.5k, R: $285k, Red: $275k) less repairsRental Comp Range: $1500-$2100/mo - Most likely $1650-$1750Repairs: $34kActual Value: $250kOutstanding Mortgage Balance: $110kPrevious Purchase Price: $88kRV Purchase Price: $134kHow would you structure this deal to minimize expenses, fees, & taxes given the following info:1) FIL can give transfer property to us given any of the following strategies:    *$0 (gift)   ** $110k (we assume the outstanding balance on his mortgage)   ***We transfer at market rate (quit claim deed adds us to property deed, $110k refi with wife & I assuming all debt, then he's taken off deed w/ quit claim & we pay him 140 payments at $1k month for the equity he has in property w/ no interest).   

Househacking is the easiest barrier to entry of investing and combines the dream of home ownership with the benefit of having other people cover our mortgage!

I want to take advantage of my good credit score to get a residential mortgage, and then transfer the property to an LLC that I'll open together with my partner.

You can easily transfer title to your LLC shortly after purchase.From what I've heard, land trusts don't provide any asset protection or tax benefits as an LLC would so DEFINITELY speak with an attorney before going down that road. 

We might also transfer the title to the LLC.

First, a PMC has no ownership in a property, so once you factor in appreciation and equity, owners should make far more than a PMC.2nd, every owner thinks that PMC's charge too much, yet they expect excellent service!

If you have any doubts....here's the exact verbiage from Fannie Mae:B3-4.3-15, Borrowed Funds Secured by an Asset IntroductionThis topic contains information on borrowed funds secured by an asset, including:• Borrowed Funds Secured by an Asset• Secured Loans as Debt• Reducing the Asset by the Amount Borrowed• Documentation RequirementsBorrowed Funds Secured by an AssetBorrowed funds secured by an asset are an acceptable source of funds for the down payment, closing costs, and reserves, since borrowed funds secured by an asset represent a return of equity.Assets that may be used to secure funds include automobiles, artwork, collectibles, real estate, or financial assets, such as savings accounts, certificates of deposit, stocks, bonds, and 401(k) accounts.Secured Loans as DebtWhen qualifying the borrower, the lender must consider monthly payments for secured loans as a debt.If a secured loan does not require monthly payments, the lender must calculate an equivalent amount and consider that amount as a recurring debt.When loans are secured by the borrower’s financial assets, monthly payments for the loan do not have to be considered as long-term debt.Reducing the Asset by the Amount BorrowedIf the borrower uses the same financial asset as part of his or her financial reserves, the lender must reduce the value of the asset by the amount of proceeds and related fees for the secured loan.Documentation RequirementsThe lender must document the following:• the terms of the secured loan,• evidence that the party providing the secured loan is not a party to the sale, and• evidence that the funds have been transferred to the borrower