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Updated over 3 years ago,
Can I have sole prop as main business and LLC for each rental?
Hi, I have a duplex rental for 4 years but I have never set up an LLC, so I claim that as passive income on the schedule E. I want to acquire more properties and be more involve in real estate investments, I know about the parent/child LLC structure, but can I have a sole proprietorship as a parent and have separate LLCs for each rental?
thanks!
Jessie