Each deed must be signed by the owner of record and filed in accordance with the state standards and mortgages must be released by the proper parties, etc.

It's too critical in these matters to DIY.As Adam mentioned, initial consultations are often available at no charge, thereafter consider these expenses as the cost of doing business and spreading the cost in all the business you do, spending $50 in order to do a transaction properly is not a huge cost.I'd think that your investors would want things done properly.

The Tenant/Buyer shall have the right to make such repairs, maintenance, and improvements, as the Tenant/Buyer shall deem necessary, proper or desirable.

(multiple vacancies when you only own 5 properties) However this is easily handled by having a proper amount of cash reserves.

16 units * $550 a month = $8,800 a month or $105,600 a yearAssume 50% expenses without actuals (you need to get actuals)50% expenses = $52,800NOI = $52,800So at a 10 cap the property is worth $528,000You need to find out what the going cap rate in your area is (call a commercial lender and ask)You need to see actual expenses to properly calculate this 

I don't see this as a bad deal necessarily, it would just depend on the builder coming through and structuring it properly.

so theoretical, if I got a mortgage on a property to fix and flip, had an investor who wants in. He is willing to to give the 20% down and rehab costs. When we sell what's a fair compensation to him from profits or...

Send proper notice to end current lease as of expiration date or state's statue time frame (whichever is later).

So there is not a ton of benefit to be gained by an LLC and that is before factoring everything that is required to have a properly maintained LLC that can have a chance at protecting you and not getting pierced and thus worthless anyway.Don't get me wrong.  

And he may be sued for the deficiency if the deal is not properly done.