All Forum Posts by: Michelle Manning

Bill- thanks so much for this thorough, well-explained response! Extremely helpful!

I am looking to sell 2 duplexes that are not cash flowing well. I own some land and already have plans to put a quad plex on it. Can I use my 1031 exchange to build the quad? Or split it and use some to build on another parcel of land that has room to add a SFM for rental? 
Non-real estate Accountant mentioned that I would need to go through an EAT, which sounds fairly complicated. Any advice or experience?

TIA

This is exactly the answer I was looking for! Thanks. 
@Kris Wong

@Cal Dunagan

Thanks so much- this is great info

Thanks Mike! That's confirms my understanding....now to figure out how much it will cost to move my new purchase out of the parent LLC and into a newly created child...

I recently began my journey to Fast FIRE through multifamily rental properties. My husband and I are both MDs, so asset protection is always a key motivation for us. I set up an LLC prior to purchasing my first property. I then added 2 duplexes. I am about to close on another property and had initially planned to put it in a new LLC owned by the original LLC, but am now thinking a series LLC might be better. However, I have no time to create the series LLC prior to closing on the next property. So my question is two-fold - 1. Which structure do many of you prefer in Texas - series LLC or parent LLC with multiple LLCs under it? 2. If I buy this new property with my existing LLC, then want to move it into a new series or "child LLC", what is the procedure and what are the tax/legal ramifications? THanks so much for any info/advice - I am learning so much from reading posts on this site!!