"Many states require an LLC to maintain certain records and provide that members have a right to inspect these records.

Wholesaling offers faster deals and lower upfront capital requirements, potentially yielding profits through assignment fees if executed correctly.

I have read conflicting information as to the requirements and limitations of a real estate agent being part of an LLC owning rental property.   

The IRS requires that you separate the value of the land as land is a non-depreciable asset, thus you are not able to receive a depreciation deduction for the value attributable to the land.

However, its something you are REQUIRED to take by the IRS.

The house required new flooring, new exterior siding, new windows, new cabinets, new siding, new plumbing, and new electrical.

There are 12 states that require NMLS registration and a state license for ANY loan on a 1 to 4 unit.. the rest of the states you may make a commercial purpose non owner occupied loan without a license.

We understand there is a limitation on how long you are required to live in the property to keep your homestead exemption.

It's easy to obtain, costs very little, and doesn't require additional, on-going effort to maintain.

3) Are there any specific requirements or compliance issues for an out-of-state LLC owning property in Texas?