Vet your contractors and hold them accountable.

However, a good real estate accountant is worth what you pay them because they will save you time and money. 

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

@Caryn FischerI agree with Jaron, you should definitely have a consultation with your tax accountant and/or financial planner before you do anything. 

Feel free to reach out with any accounting questions.

Additionally, when underwriting deals, you need to account for the general idea that repairs and maintenance will be a larger percentage of your rent, the lower your rental is.  

A home (whether primary or investment) in my eyes is considered as a savings account once you own it - a store of wealth. 

We currently accept rent from tenants using a variety of 3rd party apps-Cashapp, Venmo, Zelle but are moving away from accepting payments in our individual names and want to start accepting payments directly to the LLC/business accounts, but LLC accounts do not accept Zelle and there is a fee for using business accounts on Venmo.

While no property is too big or too small for a cost segregation study, it’s important to speak with your accountant to ensure the benefits outweigh the cost of the study.

Yes to avoid taxes and penalties (under 59.5) the money would need to stay in the retirement account.