Purchasing the LLC gives you ownership of the property, but it also opens you up to additional legal exposure since the entity has been active, and there is no way to really know for sure what else they used the LLC for.

Is there any legal action one can take or is it just a lost cause?

Each state has specific regulations in lending for Private/Hard Money (*Texas*).

Of course your specific return requirements will vary, so figure out what the numbers are for your market, analyze them to determine margins and decide if that is an appropriate return for the risk you are taking.

We provide a complimentary property-specific analysis for investors exploring the benefits of cost segregation.

It all depends on your specific circumstances and I think getting other's opinions is helpful but what works for YOU?

- Are there specific areas of Chicago that you are more interested in than others?

Just doesn't seem right....not sure of the legality.

@Michael ElliottSolara is just one of many resort communities that are specifically built for STR.

Based on our experience, we’d be happy to connect and share insights into viable areas, property management options, and financing solutions tailored for cross-border investors like yourself.Cleveland is a fantastic market with solid cash-flow potential, but as with any investment, having the right team in place is key.Feel free to reach out if you’d like to connect further or discuss specifics—I’d be happy to help!