A single property is simpler to manage, carries lower financial risk, and offers streamlined tax reporting but may generate taxable income sooner.

Over the past eight years, I have collaborated with hundreds of out-of-state investors, helping them find cash-flowing properties aligned with their financial goals. 

Registration and Financial Considerations for the Second Company:Is it possible to register the second LLC on the property (as part of the 50%-50% model) if it does not yet have an EIN (Employer Identification Number)?

Find a property that makes sense financially, in an area of potential growth, ANYWHERE in the U.S., and in your analysis account for slightly higher PM fees.  

For instance, things like death, divorce, job loss, natural disasters, heath issues, etc may cause you to change your plans unexpectedly and may change what you do with your home as a result.

It only happened once, so you have no evidence that this is anything but an honest mistake that's been corrected.The bigger concern is the 583 credit score, because it shows a pattern of financial mismanagement.

I would be amazed, shocked even, if a traditional financial institution was willing to lend on a non-habitable asset up to 80%. 

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

Hi @John Daniels - the mortgage company I work for, Assurance Financial, is based out of Baton Rouge and we have offices throughout Louisiana.

The house is underperforming financially.