Starting Out
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 3 years ago,
Sole Proprietor or LLC?
I live in Hawaii & recently acquired a 3 bedroom 1 1/2 bath townhouse from my mother's trust. I am in the process of making repairs to rent it out. I am really new to this & really don't know what I am supposed to do. I have been told that I need to open a separate bank and apply for a GE Tax License, but I'm not sure if I should set it up as a Sole Proprietor or a Limited Liability Company.