My second question - how many of you have incorporated your real estate holdings into an LLC to redirect liability away from you, the owner?

Being new and not knowing the Madison market well, I could use the guidance.It seems to me that being a 1/1 duplex, if I ever needed/wanted to sell, I might have a very hard time.What I do know (And this is off the rental flyer that was passed on to me):Rent: 865/mo/unitUpdated/Clean Property - from the pictures it looks newly renovated or well kept.Large living roomhardwood floors throughout, ceramic in kitchen.Off street parkingNeighborhood Park NearbyLocation: Near East High SchoolAgain, I haven't talked numbers whatsoever since time didn't permit, but before I call to get more info, I'd like to get a good idea of an exit strategy.

I have read conflicting advice on what state to incorporate an LLC in to hold investment property.

I have decided that there's no way I could incorporate property management into my service now...just too much.

In my opinion, the median cost of a home divided by the median household income is a BIG measure, because it incorporates so many other measuers including unemployment.  

Does not seem to work, unless you're already incorporated.

Talk to your attorney but from what I've seen most recommend incorporating in your home state.Pull up the LA City code re business tax, I think you'll find that while they base city tax on gross receipts (even if you lose money) there is an exemption if you make less than $1mil/yr.  

However, we already incorporated an LLC and I am inclined to put the property on there?

But the main point everyone misses is how to incorporate your business day to day processes, systems and management into one software. 

i was thinking ceramic tile throughout, but my contractor recommended the vinyl wood-looking flooring.