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Updated about 3 years ago on . Most recent reply
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Starting a rental business with no income
Hello
My wife is a stay at home mom and She would like to start a rental business.
We currently have 3 rentals and 1 is paid off.
How does she start the business ?
1. Would we start an LLC in her name ?
2. would we transfer the home that’s paid off into the llc or business name or her name ?
3. would she pay herself out of the rental income so she shows an income ?
Lots of questions I know, but just looking for a place to start researching
Thank you
Jeff