You (or the owner) have a legal obligation to make a "good faith effort" to procure a new tenant.

Document that your partners are legally liable for 1/3 of the mortgage payments.

Legal fees will be costly. 

Legally(talk to an attorney on this), you might want to have a debt agreement between you and LLC to loan money from you to LLC.

That tenant has rightful possession and a legal, implied month to month lease. 

I would really appreciate referrals to tax or legal professionals who can help me strategize and possibly file the paperwork for the structuring/shuffling of assets.

Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/pro

Is the billboard "grandfathered" (i.e. illegal nonconforming) OR is it in a legal location (i.e. if the billboard is torn down, can you build a new one).

I have 14 days (legal limit in Hawaii) to return any appropriate security deposit. 

@Allan Calderon If you are going to make an application for your primary residence and you are legally married then the spouse will  have to acknowledge the mortgage so they will be on title.