Yeah because we would like to switch the beneficiary to the LLC updating them would defeat the purpose. 

It kind of defeats the whole purpose if I have to listen to it all over again when I'm in a position to be able to take notes (kind of hard to do on the treadmill- LOL).

But having so many kitchens and bathrooms defeats the goal of low cost.I think the most sensible thing to do in order to reduce cost by cohabitating is to split the house into a main part and an accessory dwelling unit, and have two kitchens total shared by five people.

So when you buy you will buy in the name of the trust and no, you should never be your own trustee despite what others may suggest since that defeats the very purpose of a trust (anonymity). 

We don't have an immediate need for the cash and are open to keeping it with the lender for a while, but hate feel like keeping that much money tied up forever defeats the purpose of the refi. 

I am confused as to why they wouldn’t have just formed a multi-member LLC and both have limited liability versus the LLLP structure that seems to mandate one person to be listed as the general partner (who now has personal liability) and in my opinion appears to defeat the whole purpose of creating the entity in the first place.

And putting your W-2 money toward paying the loan basically defeats the purpose of having cash flowing rental property, doesn’t it?

Which pretty much defeats the entire purpose of signing her agreement in the first place.

Baby steps first, learn to crawl before you walk, make measured progress, accept inevitable defeat and come back stronger, control what you can and learn to avoid trying to control what you can't...you can tell the suckers who fall hard for the time pitch the same things over and over again, but, well, they're SUCKERS.

NYC really set a tough precedent with their basic Cart Blanche defeat of AirBNB back in 2011, then AirBNBs own home base SF in 2014, and dominoes in many major metros after that, now spreading to smaller cities.