Owner occupied, managed, single member LLC owned -- do I pay myself?

[Nicholas R.]

Hi everyone, I'm a long time reader yet this is my first posting in these wonderful forums.

In the scenario of a single member LLC owed, owner occupied and self-managed multifamily building, is it best practice to be paid from the LLC for self-managed expenses/labor? Also, when owner-occupied, is the rent check sent to the LLC and the owner treated simply as a tenant?

Such a newbie at all of this. Thank you for any guidance!

[Steve Vaughan]

Most don't own their primary in an LLC. Can mess with your 121 tax exclusion at sale.

I never held any residential RE in LLCs, just commercial. Never wanted to be forced out of conventional financing. 

Anyway, you are allowed to pay yourself,  but that turns passive rental income into actively earned income, subject to self-employment taxes @Nicholas R.