.- Bought an investment property for $110k on a second home mortgage 10% down (mortgage and deed still in my personal name) 2.75% interest- Renovated property this Spring (with all expenses run through an LLC with two friends, we each have 33% ownership)- Property is cash flowing nicely on short term rentals (all revenue run through LLC)- Current Zestimate $200kI have not yet deeded the property into the LLC, as I know we want to potentially refinance next year to extract our equity and use it to purchase another one.

So two separate items 1) deeded fee or common ownership 2) tax or assessor parcels.

I was going to suggest different options like a half reverse exchange for property #2 where the QI charges you more but holds ownership of half as a TIC but there’s really no purpose right?

Wanted to get advice from others who may have bought homes from family members in the past, and any recommendations on making such a transfer as tax friendly as possible.

The Option has a definitive closing date and a fixed price in the near term, its not a series of payments toward a 30 year ultimate ownership.

Will they transfer over records and system access as part of LOI?

4) What is the best way to transfer the home title/deed or whatever it’s called?

I prepared a draft purchase agreement that includes the following sections: property info, sales price, closing info and earnest money deposit, home inspection contingency, prorations of taxes and rent, risk of loss for damage during sale, possession when title transfers, closing contingent on clear title and no unpaid taxes or utilities, property sold "as-is," and transfer of rental documents and security deposit.  2.

I would like to know about your experiences and learn from them, should I transfer my properties to an LLC?

At minimum, it should protect you for any recorded liens (tax, water bills) and bogus claims to ownership (aunt Sally coming out of the woodwork to claim ownership).