Hi Megan,You can structure an LLC with an operating agreement and outline the share of ownership of the company.

Unless you have a rock solid reason as to why the equity will be a significant return in a year or two, I would look for something structured differently 

Also, be weary of reading advice from others that are not familiar with Maine's multi-step eviction process. 

This was a great purchase due to perfect room setup allowing each tenant to have their own bathroom and the massive unfinished basement that I'm currently in the process of finishing to rent out as an ADU.

We have processes in place to free up alot of my time and automate so while I won't be stepping away completely I'll have time to pursue other things.

And wait until it is just 2-4 months from being complete to sell your old properties to start your 0131 exchange   This gives you a huge tactical advantage in how you structure your calendar and plan for tenant exits, rehabs, etc

What is the ownership structure and series structure of the TX Series LLC?

Start this process so that they know that is an option and available to them.

We then talk about logistics for our upcoming relationship; how to pay rent, how to submit maintenance requests, emergency maintenance request process, HOA restrictions and violations, confirm they have switched utility accounts over, and other pertinent facts about how we manage homes.Finally we collect move-in funds and exchange keys.Welcome to the game!

Focusing on profit rather than top line is always my guidance as it encourages you to automate and streamline processes, which often leads to innovations on the guest experience front.