All Forum Posts by: Gabe Chime

I have a tax-related question that I couldn’t find a direct answer to in the forums.

I live in Texas and considering investing in a multi-family partnership (LLC)

that is registered and operating outside of Texas. (I will receive a K-1 come tax time.)

Do I have to file a state tax return in the home state of the LLC?

Do I have to pay state / local taxes in the home state of the LLC?

I’m just about to join a syndicated real estate investment.

I will personally guarantee a large loan.

My question is:

Are my retirement accounts (IRAs, 401K, 403B, TSP) protected?

Is my primary residence protected?

Thanks.

It's public water an sewer.

6 young professionals wanted to rent the house. 

The local ordinance allows 6 unrelated adults, however, I didn't want to have problems with the neighbors and said no.

I hope it's not discrimination on my part. 

I am trying to rent a brand new 4 bds 3 ba 2,230 sqft house in a new development in Austin.

Should I limit set the maximum number of adults?

The HUD + local zoning rules allow 6 unrelated adults.

Would it be wise to limit the number of adults to a lower number (3 or 4)?

Thanks in advance.