If you are sued the person who gets your money and your property won’t care how you were holding it.

Quote from @Evan Price: Own a duplex in the Mt.

What are the basic steps?

Some of the damages include ~$7,800 of missing property, kitchen cabinet doors ripped off, a mangled chandelier, a damaged refrigerator, divots from a claw hammer in the granite, and urine and feces stains on rugs, furniture, and hardwoods from an unauthorized puppy.

Hi Folks - Thought I'd make this a sticky in the "New Member Introductions" Forum. 

It's way too risky for the lender not to have an experienced hand at the wheel.

In a purchase, it's declared by the borrower on the application.

It would be a lien placed on the entirety of the property that is deeded in both your names (or in your entity, if you closed in the name of an LLC).If you plan to take full control of the property, you could refinance in your name/entity alone with a cash-out and pay your partner off with their equity share.

why are you wanting the LLC? 

Contact the company that has your rental property coverage.