@Andy Chen Should start off by reviewing the lease agreements If any that are being transferred over to you.

I’m about to purchase a house using seller financing from my business partner and was wondering how should I transfer the deed?

You’ll pay transfer taxes as the deed changes, just so you know.

Once you know what the lease says then look at how that money transfers to you. i.e. does the PM keep the late fees or is that part of the "gross rents" collected?

How are you transferring ownership/assignment4.

You are eligible to reduce the gross rental income with expenses that you may have.If you want a property in an LLC - you may need to speak with an attorney/title company to transfer the title.

In some states e-mail might be legal but non-enforceable in a court of law.You need to determine ( Is this tenant worth keeping?)

There are free e-signing programs available online.

All of my income is reported on my personal return, each property appears with its year-end totals on a Schedule E.

TL;DR -- how transfer 50% ownership of my rental properties to my brother?