Sometimes units are allowed because they are "grandfathered" into the code (built before the law made illegal), but this is going to be a local issue, and probably not something you can get a definative answer about in an online forum like this.If you're worried about insurance disallowing, why don't you call and ask a couple companies for a quote - if you explain the details, they should be able to tell you if it is not insurable.

That's what the doc says.Can someone here explain to me the pros/cons of keeping the title open for that year?

And uses different language in the Operating Agreement to explain the distributions.

I know Greg your a smart dude so I wont insult you in explaining why in the US a FHA offer is not one to take over a cash offer even if its a few bucks light.

That'll be able to help explain things better.  

I explain all the benefits of it and the time/freedom it could give us but it just doesn't seem to work.

You'll have to figure out the potential objections and your responses.

This is a tough hidden objection to battle.  

I could explain more, but it was enough for me to lose a lot of money.I couldn't find a good property manager, so I started my own PM company.  

He comes recommended by a very good friend of mine, who I could easily see as my mentor.This GC guy wants to enter in a partnership (I don't know the detailed terms yet) and want to flip houses and was trying to explain the obvious to me that flipping is less risky than to maintain a long term renter and dealing with their hassles on almost a daily basis, making small profits for a longer duration compared to profit up front (if we really could make that happen!).