We are planning to sell the property soon and move up into something better.When we buy the new property under the same LLC or an S Corp, are we both INDIVIDUALLY saddled with the full amount of the loan? 

@Steven BellSorry that my response put a bur under your saddle Steven.

Buying a house here will be $1.5 million to $5 million, throw in property taxes and insurance, and I'd be saddled with a ball and chain the rest of my life.I was told on one of my trips to Costa Rica that there are plans to modernize the airport in San Jose so they can take in the big jumbo jets sometime within the next 7 to 10 years. 

AS long as you fully understand the risk... if your deals don't work you just saddled your self with almost certain bankruptcy.. if they work your the next Hewlit and Packard.

But right now I’m just looking to figure out what I need to do to get back on the saddle.

On the other hand, I don't want to saddle an otherwise good tenant with unnecessary eviction-filing costs when they are only a few days late with the rent.There is not RIGHT or WRONG solution for slow payers. 

The last thing you want to do is be saddled with huge wedding debt and struggle with that versus investing.

This is my first post and I'm not even sure I'm in the correct forum.My grandfather (who is a rather smart investor in Hawaii) was duped and invested in a get rich quick scheme a few years back and is now saddled with a piece of property in St Louis Missouri.

My wife and I are both in the medical field and saddled with student loans.

Through my new contacts, I've got access to enough cash to get back in the saddle, but am currently restricted to internet searches.