First time landlord- how to structure

[Casey Epperley]

Hi Everyone! My name is Casey Epperley and I live in Salem, Oregon. This is my first post on here, however I am a long time listener of the BiggerPockets podcast. Little background information on me - I am a 29, married to my beautiful wife Melinda Epperley. We just had our first kid who is a day away from 6 weeks old! I am a licensed Journeyman Electrician. 

We are currently in the process of closing on our second house ( finally took the leap). We intend to rent our current home. I have redone EVERYTHING in the house, from the plumbing to the electrical to the interior/ exterior. Our mortgage is $1425 and we believe we can rent it at $2100. We intend to self manage and use the BiggerPockets Rental Contract. We have an active LLC ( made for this purpose).

My question is how do we structure renting our home? 

Do we rent our home to our LLC, then do rental arbitrage under the LLC?

Do we figure out how to transfer the home into the LLC?

Is it worth it to run it through the LLC?

How do we get the most tax write offs/ pay the least amount of taxes?

We will be buying all new appliances for the rental (taking out our expensive stainless steel). Would that be bought and ran through the LLC?

Also our intent is to rehab the new house within the year timeframe and rinse and repeat the process. Would all the rehab on the new property be ran through the LLC? (We are purchasing the new home under an FHA loan)

I know not every question can be answered here, but just wondering if anyone else has gone through this process and can shed some light. Or at least point me to the right direction/ person to talk to.

Thanks everyone for taking the time to read! 

[Bjorn Ahlblad]

@Casey Epperley congrats on taking the action! Put simply you either do everything through the LLC or nothing through the LLC. There are no tax consequences or advantages either way. I use separate bank accounts and CC for my rental business to keep things simple. Whatever you decide protect your assets with adequate liability insurance. Now would be a good time to hire an accountant a good one can save you a bundle. All the best!