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Rules concerning Real Estate Agent being part of LLC investing in rental property
I am setting up an LLC to buy rental property and one member of the LLC will be a new real estate agent. I have read conflicting information as to the requirements and limitations of a real estate agent being part of an LLC owning rental property. Would appreciate input on this ....
Is it legal, and under what conditions? Are there conflicting tax issues because the real estate agent is a member of the LLC? Thanks!