It has been performing very smoothly, zero unexpected expenses + having the rent steadily in my account every month.

Account for repairs, vacancies, property management, and capital expense.

Check us out at https://www.facebook.com/groups/846713759601226It's a great group with a lot of knowledge and a lot of "action takers."

You, of course need to have a written agreement with them before selling the LLC to them and you will need to officially transfer ownership of the LLC to them using the legal means mandated by your state laws (check with a local RE attorney).This strategy is better than a double close because it's less risky and better than assigning contracts because offers are often made under LLC's so will be accepted more often than offers that stipulate assignment of contract.If you are already under contract under your own name or under the name of an LLC you do not wish to sell (like your company LLC), and your contract is not assignable, then you may be stuck with a double close.

Hello,I am checking to see if anyone on here has gone through a similar project.We are closing an a 40,000sqft 3 story industrial building in a couple days.

Its also more cost efficient compared to NY in terms of fee's and overall costs to set up LLC.When I set my LLC up in Fl it took literally 15 minutes and you will need to get your Tax ID/IEN set up so you can get your business checking account set up with a local FL bank. 

I would reach out to an accountant that is located in your market to ask this question.

@Lyle Cooper I have a situation where the husband pays in cash his half due to having a cash business and the wife pays her half with a check.

I think my next step is to check some of these properties for liens and such.

Come check out the Dothan RE meetup at 6pm on May 14th at The Thirsty Pig.