The long and short of it is that the trust would sell the props and reinvest into other income producing assets, and you could draw income from the trust during your life, and then whatever remains when you pass would go to your chosen charity (or educational institution, they reeeeealllly push this on their wealthy alums, but I like the idea of funding a worthy charity, personally).

@Virginia Hunt, You'll get a dozen different opinions on this from a dozen different people. 

Lets start by stating that they have to be licensed, which is required by law including going through extensive background checks, be financially fit themselves, and go through education on laws and mortgage practice.

I have been in the real estate game since 2014, mainly educating myself and saving money to do my first deal. 

I received a proposal from an architect but I wanted to ask around here for a recommended second opinion or even if there's a section of the forum that I can post a PDF of the proposed plan for opinions.

I will definitely seek out an attorney, and educate myself on operating agreements. 

We are just now starting to look into bigger deals and I'll tell you having a place like BiggerPockets is invaluable to help both educate us and ease some of the fear that you can have when considering larger scale investments. 

In a situation like that, try to educate them.

My question is, what are your opinions on refinancing for less than the appraised value. 

My plan is to continue buying and managing the props, with the goal of finding my children's college education and to support aging parents.