Since they're responsible for the property, they’re selective about who they take on, but I can refer you to them.

The market is slow currently and you need to check flood zones and assess insurance costs when underwriting a deal.

This is a first for me, so I'm not sure whether there's a protocol or this isn't my responsibility.

Thanks for your response.

Rent payments from the medical LLC are fully deductible as a business expense, while the property-owning LLC will report the rent as taxable income, which can be offset by deductions for expenses like mortgage interest, property taxes, maintenance, and depreciation.To ensure compliance, document how FMV was determined—using market comparisons, an appraisal, or similar data—and draft a formal lease agreement outlining the terms, rent amount, and responsibilities.

Tenants should certainly take responsibility for maintaining the property and promptly informing the landlord of any maintenance concerns.

I read Pamela's response in January 2025!

You want an accountant who can help you strategize and who is responsive when you want to know the consequences of the financial decisions you are making throughout the year.Good luck.

Meghan, Thanks for the response!

I have voiced several concerns with no responses.