Property Management LLC

[Jose Rocha]

Hey everyone! My wife and I currently own two properties. One is a rental, which we manage, and the other is our primary residence. The rental is easy to manage right now as my sister-in-law and her family are occupying it. My wife and I currently manage the property, but can we and does it make sense for us to start a Property Management LLC to write-off expenses, travel, etc.? Can this help us when we manage future LTRs and STRs? Or am I making this more complicated than I need to, and we do not need to create an LLC? We don't have either property under an LLC. I am trying to find tax advantages to help us for the years to come.

Look forward to everyone's responses! Appreciate you in advance! 😀