I personally love the area and travel there very often.

Where would you personally avoid and why?

If the property is currently financed in your personal name, transferring it to an LLC can trigger the due on sale clause unless you have lender approval.

This person sees the value of long term wealth through real estate and they are willing to be uncomfortable now with the goal of being more financially comfortable later.

In fact if you added up all his claims, he would personally possess 95% of all wealth in the world.

Biggest thing is keeping the related income/expenses separate from personal. 

FinCEN mostly hits title companies and big lenders, not private money using personal funds.

I'd personally favor house hacking if you're in the position to do it . 

Also, require the Corporate entity to provide you with identifying AND contact information for each person authorized, and their start/end dates. 

I was working as a handyman in 2009 and at that time it made sense to me that housing was falling in price because each person I personally knew to lose a home to forclosure was really over extended.