For me it's better to transfer that liability to someone else.

This legislative session they were asked to sponsor legislation to allow for an out of court binding dispute resolution process that would empower home owners in enforcing HOA laws with an affordable, expeditious, and accessible venue to resolve disputes (a process recommended in a State HOA Study); end the abusive, excessive, and illegal HOA Transfer fee on home sales that costs home owners millions of dollars each year; to limit the excessive collection of fees and lawyer assessments on HOA debt; and most recently provide financial relief to small HOAs in the property manager licensing program.

Seems like it might be different since the deed never is transferred into my name. 

They have escrow, transaction coordinator, free website, and more.

If so, how would I transfer the properties from the current LLC to the new entity? 

I put $1 purchase price on the first one and sent it over to my title comp I was told this will make the transfer tax subject to the county assessed value since its such a low price how do you get around that? 

.. to hang my license with.i'm not a newbie, as already have ~15 yrs experience in sales & leasing back in NYC, but that franchise isn't here on the west coast to transfer to.already know what to look for that suits my needs (low monthly/desk/misc fees and a decent split, as 75 or 80 is what i'm used to!)

Sounds like more trouble than its worth to  dissolve or transfer his share to me.Think it would be easier to set up a new LLC in my name for 200.00!

If the properties are not purchased yet should I create an expense account for each cost and then if the properties are purchased transfer that cost to the property cost?

You may not want to rent the homes, sell them (on terms) or for a very low price and transfer title.