Maintaining separate personal and corporate funds is critical for avoiding IRS scrutiny.

Longer-Term goal- Absorb appreciation, pay off note, reinvest to maintain Top1%, and use cash flow to grow wealth.

Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.

Our state guidelines say we must maintain a temperature of 65 degrees.

She wants me to help maintain the property. 

To thrive in real estate investing, you must maintain a firm grip on your finances.

Multi-family without separate meters may need more unique billing arrangements such as passing the costs through to each tenant on a square footage basis.As far as insurance, landlord will have to maintain their own insurance per mortgage requirements.

Also, most states require at least an annual inspection of the facility by the state in order for the company to maintain their liscense.

In fact the city of mobile has argued in court that you have an obligation to secure and maintain.

Maintain a relationship with the broker/lender.