Talking to them and explaining that if they don't pay the rent, that is your only option and you don't really want to put an eviction on their record...but you will if needed.

Do not mingle your funds/expenses with personal funds/expenses.Meetings and decisions must be recorded and kept for review if requested by a court.Different states have different rules, so you'll want to consult with an attorney who specializes in LLCs inform you about what your duties are so you can peform them.  

@Jeffrey SmithThe answer is, make sure you record the transaction and get the deed/ title.You get the tax break because you own it

A track record is important.

You'll need to provide transaction details... property location, purchase price, allocation of transfer and recordation taxes and settlement charges, etc.

Once you have a track record or you pursue private equity a waterfall is more common place.

The title info is on the county tax accessors website and the seller should be able to provide loan and or tax records.  

Also, they seem to have a great track record for finding top-notch tenants - and that’s worth something too!  

I had to save the house because my job monitors my credit periodically and I need to have a clean record.

Hi Fellow members need some help with my situation.I bought 2 parcels of 1.4 acre each next two each other (let's call them A and B) under my LLC in California.On Lot A 2 years back I partnered with a real estate agent and transferred him Lot A (for free so he can get a loan under his name ) and put my llc lean (it is recorded) so he can get a private loan to build home on parcel.