All Forum Posts by: Emily Anderson

Thanks Kevin. Ok, let me see if I can clarify my questions.  What qualifies your rental properties and all that goes into them as a business, vs. an investment.  What I'm wondering is can we have these 3 properties qualify as a business, with all the write offs that come along with owning a rental business.

Hello! Can someone point me to a podcast, book or blog post about how to run your rental properties as a business. How do we know we qualify and what are the steps? We own two single family rental properties and an ADU in our back yard. I am not sure this qualifies. We do have an LLC created. In addition, my husband does some side work doing landscaping, installing turf, etc. Is there a way to group the rental properties and the work he does in turf/landscaping all under the same business?

Hello. I'm wondering if someone can point me in the direction of a podcast or blog post about using an LLC to run your rental properties. We have two long term rentals and an ADU in our back yard. We created and LLC after we purchased them, and our leases are created between the tenant and the LLC. But beyond that, I'm clueless. Does the property need to be owned by the LLC? It's not, we'd have to transfer the title? And do you need a bank account dedicated to the LLC? Right now we just have a separate personal account that houses our rental income and expenses.