It is a group of lawyers that have pooled thier resources and went deep into the legality of foreclosure.

Yes, I think I am going to speak with a lawyer but at the same time I am wondering if there are some other people in this forum that actually used this kind of strategy for partnership. :)

It should not make a difference for taxes, although I am not an accountant, so I can't say for sure.I'm also not a lawyer, but the LLC would be to protect you from liability claims.  

I suggest to talk to a lawyer.

Do you know whether not I would be effected tax wise by using leverage?

You should contact a lawyer or consider hiring a property manager in your area.Disclaimer: I am not a lawyer.

Seems like renting to our own LLC would have roughly the same effect, unless you left out something critical to the discussion.

Have a friend of the family that recently passed and the family needs a probate lawyer in Florida to help settle her estate in Ft Myers.

I'm not a lawyer but  I think the fact that it doesn't prevent you from charging whatever you want is the way they are trying to get around rent control.

I have another question if you dont mind, the account that the lawyer sets up, will me and the investor need to open a LLC and have the account in the LLCs name, or could it go in one of our personal name?