My overall strategy is to minimize the number of entities I create.

If there is minimal furniture, that's ok, but bear in mind that the Inspector will have to cover his butt by writing into the report that the house was not clear and therefore his conclusions may be invalid and he is not liable for missing anything.

Add additional members to you LLC, they can have a very minimal interest 9.

Looking for some creative advice that hopefully minimizes the tax bite.My business partner and I own two houses free and clear in our LLC.

I would NEVER, EVER offer up a reason to a tenant - minimally, you'd be subjecting yourself to an unsolicited argument/negotiation, and could be opening yourself up to a discrimination claim or other such legal entanglements. 

Hi Jessenia,I've been in the game for quite some time and have many battle scars to prove it lolMy best advice would be to always look at a worst case scenario and start from that.By starting with a worst case scenario you will be able to quicker eliminate markets that aren't a good fit.I don't know much about NY but personally, I wouldn't invest in any market that takes 6 months or even worse longer to evict.Worst case scenario for example = Tenant doesn't pay rent and trashes the property.I would want to be able to evict, fix and re-tenant as quickly as possible.Time is money and I want to keep moving forward and not deal with financial and emotional drag.There are many markets nation wide that are landlord friendly.My business is based on Ohio and there is no mercy for non payment of rent.Eviction usually takes 6 weeks max and although I never want to evict, being able to do so quickly minimizes risk of that investment.Thanks 

You can specify blackout dates when the property is not available for rent if you wish to use it personally during certain times of the year.Legal and Regulatory Compliance: The management firm will ensure that the property complies with local laws and regulations concerning rental properties, including obtaining any necessary permits and adhering to zoning laws.Maintenance and Repairs: Property management firms often take care of routine maintenance and emergency repairs, ensuring the property is well-maintained and ready for tenants or guests.This arrangement allows you to enjoy your second home for part of the year and generate rental income when you're not using it, with minimal effort on your part.

In Florida average homes have minimal molding, usually just base trim and door trim so the texture adds some visual interest to otherwise flat, boring walls.I think drywall texture is a perfect example of how you need to understand your market and your buyer's needs/wants.

The threat of a lawsuit can be minimized thru your commercial property insurance.

Lender calling the note due is a risk, but done the right way and guided by an experienced professional the risk can be minimized.