You would just be adding complexity by accepting rent checks through the LLC at this point, so it would just be easier to collect them in your own name until the LLC is set up properly.The best strategy to utilize an LLC I have seen for investors in your situation is through a land trust.

There are a lot of people who are trying to learn notes but most do not stick around as it is more complex and a lot of legal issues.

I don't know Texas law in particular and they may have some wacky laws or the CCRs may be crazy for this complex, but rental fees are generally legal for an HOA to charge.

Something to keep in mind that's a large negative of condos as investments is that many will limit the amount of units that is allowed to be rented per complex and that would change during your ownership.

The buildings are also scheduled to be repainted in a few months and the complex is very well maintained.

Getting water and electric to it can be done fairly easily but drainage is another issue and usually pretty complex and expensive.First thing to do, before anything else, is to check with the county (or city as it may apply) and see if they would allow you to convert the garage(s).

And some inspectors have a God complex and will not approve things for the dumbest reasons.So a job that would take me 2 hours turns into filling out paper work, applying for the permit, paying a licensed person to do the work, getting it inspected and hopefully approved.

It makes no difference how you take it but your paying Uncle Sam.there is a difference with an S Corp (that is more complex) but an LLC does nothing for tax purposes.

Looking into buying this 22 unit apartment complex.

(i.e. are big complexes or small ones driving the data?)