If you are looking for added protection of your other assets, try transferring the loan, ask your broker about it, to a Land Trust.

Yes.The general problem with real estate investing forums is that a lot of new investors come to them looking for an echo chamber just to tell them to do something they want to do, but don't have the skills, background, or expertise to do and then people say, yeah do it.

I'd like to run this by another person with more expertise than me in this forum.

This isn't to try and get one over on you, but I'd have to protect myself against the tough transition points between the surprises that they hadn't finished yet, or did incorrectly (not saying due to shotty work, it just happens sometimes), or any other things that I'd then be placing myself responsible for as the new license holder on the permit.  

National origin is a protected fair housing class.

The most important thing is having a legal agreement that protects all parties and spells everything out.

If someone sues or gets hurt protects all of you too, it wise for you to google pros and cons on LLC, ref inside real estate.

If you would like more protection, require them to get an Umbrella for an additional $1M-$2M. 

LLC's do not provide protections against lawsuits.

They will be someone with lots of cashflow/W2 income typically who does not have time or expertise to do a deal like you are doing.