Since the loan interest will be deductible whether it is in your name or the LLC's name, the LLC is for legal protection only and means nothing to the IRS. 

What do you mean by "register"?

I would certainly reach out to them to discuss it if you are worried about it/concerned. keep in mind all these investments are good until they are not.. 

A Broker Associate means that they have passed the brokers class and test nothing more.

We’re not sure yet if we’re going to wholesale this one or keep it for ourselves with a seller finance deal.

So my conundrum is do i just keep renting to a new tenant and deal with the maintenance expenses as they pop up, or do i try to get out now before a major expense pops up and just take the little bit of profit (less the capital gains tax)?

Which over 30 years is about 9%.It then gives me an annualized ROI CAGR of only 3.1%???

Doesn't mean there aren't successful wholesalers, but the numbers are much thinner.

. ($140k purchase price - ($177k loan - $82k rehab portion)).So, that means you are entitled to 142/(142+45) = 75.94% and your friend 24.06%.

I'd like to rent the property out for a few years, see where interest rates are at the end of the balloon, and decide whether to refinance in order to keep it or sell it.