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Updated 7 months ago,
Steps to Turn Primary into Rental
My current primary was purchased in 2018 with a conventional loan. My intent is to convert my primary into a long term rental. I'm curious as to the strategies that are recommended to ensure I've covered all my bases in the process. I have a management company that is local for day-day management. I am able to obtain landlord insurance. Do I create an LLC to own the property and use a quit claim deed to transfer ownership? Do I include my mortgage company in that process? Looking for efficient ways to hold title while maintaining recommended safety nets as well as any other recommendations regarding LLCs/Trust/estate planning tips. Thank you for all of your insight!