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

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

So the ONLY GC's you will ever get to make this work with, are the GC's who are too small, too new, too green, too novice, to have earned the PROPER logistical system and account's to have obtained Manufacturer/Supplier direct pricing. 

I was turned down by all of the companies that are often mentioned here (Proper, Steadily, Foremost, American Modern) and many others. 

Very interested in setting up the LLCs properly to do this.

Great question, and I commend you for thinking ahead when it comes to estate planning and ensuring your investments are structured properly!

The number one benefit for a high income earner that invests in long-term investments is that the depreciation will shield your rental income from your effective tax rate.if you are a high income earner, you are likely around the 35% federal tax bracket and another 5-10% tax bracket if you are in a state with a taxInterest income will be taxed at potentially 45% + 3.8% net investment income taxDividend income will be taxed at potentially 30% + 3.8% net investment income taxRental income potentially at 0%I think a lot of people get disappointed that their tax burden doesn't decrease.It can potentially decrease but it will require proper planning along with some level of participation with the real estate.

Definitely be sure to properly vet your PM - asking the right questions - experience?

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

A lot of Chicago proper housing providers only do move in fees.