Owner Occupy - But don't tell tenants you are the landlord

[Kwesi S.]

1) Is it a good idea not to tell your tenants you are the landlord if you owner occupy? If so, why? If not, why?

2) If your tenants are under the assumption that you are managing the building and not the landlord, if they pay rent with a check who would they pay the rent to? LLC? Can you have an LLC with an First time home owners loan?

[Prashant P.]

You cannot qualify for a first time home owners loan and be an LLC. If you are an LLC you are a business and will require commerical financing which in most cases is 25% down and are differnet terms than a non business loan.

From your posts it sounds like you are worried about all thr problems with being a landlord.

If you conduct the due dilligence when chosing a tenant alot of the problems can be avoided. In fact, you can actually find great tenants you will pay their rent on time and in the future may be potential buyers or references for you.

Part of being a landlord is dealing maintenance problems. If your heat stopped working in the middle of the night or a pipe burst you would call someone to fix it. The tenant is doing the same thing, except they are calling you. You cannot fault them for maintenance issues, in most cases.