The fact that you are trying to hide behinde a multi-member LLC and had to switch brokers until you found a small flat fee outfit that does not have a compliance department that really understands the legal implications should be a red flag to yourself.

Down the road I might get into multi family units or landlording multiple properties.

I have had a rental for 6 years with good success and now I'm very interested in learning and getting into owning multi family rental property.

Hello fellow BP fans,I'm looking for the least amount of down payment on a non-owner occupied 2-4 unit multi family.

My experience has allowed me to manage multi-million dollar budgets and interact with C-Suite executives who depended on my advice to make decisions.

@Jered Sturm I just read a bit more about your firm and your multi family experience.

I was convinced by my landlord/friend that buying and holding multi-family's was the way to go, but after reading books and listening to the BP podcast, I find myself open to some of the other real estate investing methods.

This was my first property and for the most part I love it.  

You can pay him at the closing, usually with certified funds if you do not have a previous relationship with him, or you can simply purchase his agreement prior to closing and you are the party executing.  

And yes, fair market value rent is the key to keeping the IRS satisfied with the related party rental.