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Updated about 4 years ago,
Form an LLC for your first BRRRR property?
Currently, under the process of a quiet title of a SFH here in the state of South Carolina. I know it will need a lot of work to get it rent-ready and later cash-out refinance it. My concern is, whether or not to form an LLC for the tax write-offs since the cost of rehab will be significant. Or, on the other hand, should rehab be paid cash only on the first investment property?
Note: Plan to hire contractors that can provide proof of insurance, W9, and business license to properly file those expenses. The quiet title action would possibly take a month 1/2 to get completed.
Thanks in advance!