I’m going to lend  to a few people I know with LLC ‘s  on some mortgages and receive interest , I am not putting myself out to public lending just some commercial loans as LLC single member pass through  , do I have to pay local taxes in Florida , I have no brick and mortar , no employees , just LLC in Florida and live in Texas , there is no work involved I just receive interest .

This strategy involves having a third-party entity hold the replacement property while you complete the sale of your relinquished property.

Meanwhile our local properties were having increased cash flow without the effort involved with 2 hurricanes. 

When I acquired my own portfolio I did so largely by my own version of BRRR which involved paying cash for a property, fixing it up, renting it out and then a year later getting a Wells Fargo HELOC on them and using that money to buy another house.

Work for a lender as an underwriter so am involved in RE everday.On BP to learn more and learn from others, interested in finding a mentor here.

I have an attorney in Illinois (Sottile and Barile) who we use that might be able to provide some assistance on this as it could get complex in regards to the situation - especially if any of the current deed holders have children involved.

I don't know how IL laws are but I think in most places a local municipality can only charge a fee to provide a service and the cost of the fee must roughly correspond to the work involved in providing the service.

Once most people find out what is involved with licensure they won't do it.

They are pretty involved in making sure the property is updated and functional which ends up reducing the amount of $ offered, or if the property needs maintenance repairs Flock might not offer on it at all.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.