This is my personal opinion, which probably won't be popular.If you are worried about the cost of hiring an attorney to create a proper operating agreement for your LLC, you probably don't need an LLC, and if you choose to use an online site to create an LLC, you probably get the protection you paid for.

"Soon" is the operative word! 

So your super basic P&L may look like: $30,000 Rents-$3,000 insurance expense -$9,000 interest-$3,000 taxes-$8,000 operating expenses-$14,000 depreciation ----------------$7,000 loss on paper for the year  so negative taxable income But remember- $14k of that (depreciation) was something we didn't actually spend money on- so cash in bank at year end would be $7,000. 

I am hoping to learn, network and even provide insight.Currently, I own and operate a property management company, PMI Cardinal, in the Charlotte area. 

@Tyler Garza With my CFO clients, I generally use 8% vacancy and 25%-35% operating expenses depending on if they are self-managing or using a PMC. 

I've hosted 12 units by myself in the Tampa Florida area, but it was my full time job.  

Your job is to determine if under the hood of these packages is it is underwrote properly and with a good sponsor.

As a sole operator, you have all the policies and procedures in your head and can apply them to many properties without referring to a binder.

Jack,Do you only buy/sell in Mass or do you operate in other states?

We have been a quality fencing company for 5 years part-time, and just announced this year we are going full-time with it. Looking to learn anything and everything about the commercial world to hopefully one day be ab...