LLC for Tax purposes on Rental property.

[Stephen Coady]

Any help is appreciated.  I have just put in an offer on my first townhouse in Birmingham, AL.

In the event that it moves forward, I was hoping to get some advice on how to bank my rehab expenses and income. I already have an LLC set up from a previous small business I owned but it is currently inactive.

Should I put all of this under an LLC or Personal? Pros and cons to each?

Thanks,

Stephen