Profit and loss statements individual or group properties ?

[Jonathan Wildy]

When you are doing your profit and loss do you do all individual properties and the group as a whole? I have all my single families in one llc. I’m hoping that at some time I’m able to leverage this or sell and 1031 into larger units for less single families. Does anyone have a sample of your end of year statements? I’m having trouble developing something from scratch.

[Lance Lvovsky]

@Jonathan Wildy

You should track per property if not for your own metrics then you will need to for tax reporting purposes. Your CPA needs to report income and expenses per property on tax returns.