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Updated almost 5 years ago,
Buy under LLC or my own name- i live there and put airbnb prefabs
Hello everybody.
. I have a question please help . I have few properties under llc , however now i am buying property where i will be living. Its a house with a garage and barn. I am planning to also put few log cabins or prefab homes on property for short term rentals like Airbnb. I buy it for cash and it is foreclosure REO . But will need to put at least 50k in renovation. So i will be investing in it. Also will do refi once the value is up after reno. I though about having my company llc mailing address there as well but i can do it at different address. How to separate those personal from company if i live there and it is under LLc . Do i pay rent to LLc . What is better in this case to get the most out of it in terms of taxes, and personal protection and not to pierce corporate vail if i live there . Can I live yhere as property manager maybe and take money for it or live for free because i take care of it. I will keep it for long term and probably buy more land arround it to build more prefab for airbnb.
I am searching now also for CPA and title agent and/or attorney . I invest in PA
Let me know your thoughts
Thank a lot