Buying Second Multi-Family

[Jacob Lapp]

Hey Everyone,

I bought my first triplex last August with the plan to claim residency for the first year.

My plan is to do this every year. Buy, claim residency for a year and repeat for the next 4 years.

When I bought the first one, I bought in my name. But plan on creating an LLC for the next 3.

I talked to my mortgage guy and told him I was planning on waiting until August to purchase next one. He told me it did not need to be a full year.

My questions are;

1.) What does the process look like for switching title from my name to LLC on my currently owned property? Is it expensive?

2.) Is my mortgage guy correct? Can I buy next property in less than a year?

3.) Are there any differences between the first purchase and the 2nd?

Unrelated

4.) Has anyone rented out furnished apartments? Pros and cons?

Thanks!