Or state how many share each bath and how the baths are maintained between peopleGood point @Lynnette E., the bedrooms have locks for privacy ... but the bathroom has to be shared between 3 bedrooms assuming my friend is going for 100% airbnb occupancy (it's a single family home)@Marian Smith - another good point, I don't think they've checked Homeaway but they have looked around at Airbnb.

One cannot simply transfer from a trust account.  

My return will still be relatively simple with just adding a schedule E. 

Basically the single member LLC transferred 100% ownership interest from my dad to me.

If you hold paper, that would occur at the closing where the deed is transferred to the buyer (and the private money, if a lien, is paid off)... so a default would require foreclosure. 

Here is a great free networking event on the 29th:https://realacquisitions.com/houston-real-estate-investing-summit/and another one on the 23rd:https://www.eventbrite.com/e/coffee-and-contracts-jan-2020edition-host-investopia-online-tickets-88871255317There're meetups pretty much daily - check the Houston forum here on BP:https://www.biggerpockets.com/forums/756-houston-real-estate-forumas well as local Facebook groups if not already. 

The process of transferring the panels over to the new owner is a pain and it will make it more difficult to sell your home.

@Ernest E.

Helton thanks for the advice, I'm mainly looking for LLC formation and then transfer of title from individual to LLC, tenant contract legal review.

It’d be amazing to keep the property in the family if possible and remove the burden of the home from her if there was a creative way to transfer it into our names without paying for the higher property taxes and pay her what she deserves for the home.Do you know of any creative solutions or have you heard of a situation like this?