I’m starting to feel defeated with all of this, but I’m trying to find a way.

@Alec Hilliard Yea, that might be interested if you are unable to REFi out, as that'll defeat the BRRRR purpose. 

Plus the IRS would look at this and likely say that Master LLC actually is the owner of A and B (given that all of the profits go to it) which would defeat the whole point of this setup.As you can see, your broker's suggestion is needlessly complicated and ultimately does not work (unless I am missing something).If you want to operate 50/50 with a partner, you both need to own the LLC (or LLCs) 50/50.

Almost like cheating defeat.

You could have them withdraw and wait until the contract is up but I think that defeats the OPs purpose.It is a contract like anything else.

I believe you can have LLC as property management and GC but it kind of defeats purpose.  

But, that defeats the purpose of using it to fund down payments on rental properties if I plan to move out of my principle residence in the neat term (within a few years).

You could sell the notes but that defeats the purpose of holding the mortgage. 

From an asset protection point of view it seems that you are defeating the purpose of the LLC.Also, financing in your name is going to greatly limit the number of loans you can qualify for... and based on current guidelines qualifying for each additional loan will get more difficult.I like purchasing in the name of the LLC and using a commercial financing approach for all of my rentals.Good luck... and keep the questions coming!

However if I use the HML I described above does't that defeat the purpose and in the long run could hurt my buying potential?