Liability Protection: Transferring to an LLC provides asset protection but may not always be worth the hassle or cost.Next Steps: Review your loan agreements, consult your lender, and get advice from a real estate attorney and tax pro to ensure everything’s compliant and beneficial.

Now if you are looking for one that can handle assignments or double closes, ensure you ask before starting a file.

Remember your situation is unique so it's important to consult with a tax advisor or CPA to explore all available options and ensure compliance with tax regulations.Thanks!

We simply include the tax on the invoice sent to guests, which makes it easier to track and ensures we're covered for tax purposes at the end of the year.For Chicago, I’d recommend checking directly with the city’s tax office or a CPA, but generally, you’ll need to register with the city, collect the hotel tax from guests, and remit it on a regular schedule (likely monthly or quarterly).

Nick Check with municipalities, counties, and HOAs to ensure you are in the clear.  

You can also find various contracts online, develop your own then have an attorney review it to ensure it has teeth, and is legal in your area.7.

It’s likely the GC will subcontract the concrete work to a specialist while they focus on managing the permitting process and ensuring everything is done to code—especially if there are ADA requirements involved for the ramp.Let me know if you need help navigating the process or any tips for working with contractors.

Just ensure you’ve got a solid plan for reinvestment and aren’t rushing into the next deal too quickly.

Ensure the property’s price aligns with market trends, and work with a local realtor to help with due diligence and negotiation.Good luck!

Take ownership of your mistake and learn to do the proper due diligence recommended above😊