you will not want to take documents from anyone on line and will want an attorney to create docs for you which would range from $5-$10k.Regarding management fees, 1-2% is what those fees typically, are so even at $1M you are taking $10-$20k/yr in management fees, which probably does not get you super excited, but thats where they typically are.

It is likely that both you and your investment partner will need to pay taxes.

I found one self-paying tenant with a 530 credit score and eviction history.

Hi Chris, How much is the total line of credit for on the property? 

I rent nice places to renters all the time and they take good care of the property, pay rent on time, communicate well, etc.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

Even better if I can sit down with a builder and get started on funding and blueprints.This meta-strategy will use all the above strategies:1. house hacking: house will be built from scratch to maximize rent/room, while having a family unit/ADU for my family to live in one year2. costseg/STR: the building will be built from scratch to maximize bonus depreciation.

It would just be so much easier to let B report all income/expenses than to have A & B split everything but A also pay B rent!

You may still want to consider opening up a separate bank account because there may still be some expenses that you pay for directly outside of what is paid by the property management company - I.E.

If we kept it in our name for a year, does anyone know if we will have to pay transfer taxes when we transfer it to the LLC in both our names?