I really like the old SMART goal acronym (see below) but it gets a little murky when it comes to real estate investing because of the multi-dimensional nature of our favorite asset class.For example, many investors list goals in terms of the number of units they want to own but the problem is that that doesn't necessarily lead to an income or wealth goal because there are so many ways to finance or structure the deal and rent – to – value ratio (RV ratios) vary dramatically based on geography and price range.I think the best way to approach this is to set in overall portfolio value goal and an income goal related to that overall asset value while disregarding financing options, at least initially.

When that client disregards their obligation, claiming they are not represented and another agent acts in good faith on that representation made, that agent acting is not liable for fees from their work in assisting that client.

I know of several other owners that have rented their units and disregarded this rule.

If I think an appraiser will use them, then I do not disregard them.

Disregarding a situiation where one could be a fool and purchase a second note, thinking they bought a first position deal, there is no way that the investor could lose 100% (or as they put it - "everything!")

A single member LLC is default a disregarded entity, but may elect to be taxed as a C or S Corp.

That is because the IRS considers and LLC a disregarded entity.

This tax payer did this year after year with complete disregard for the rules.

Thank you for all the info.I'm also new to Real Estate investing and I'm about to buy my first rental property.I have not formed an LLC yet, but I'm thinking about forming one prior to purchasing my first income producing rental property.My goal is to generate revenue only from rental properties, and to be the only owner of the properties - Single member LLC.So in this case should I open an LLC and just be considered a "disregarded entity" by the IRS?

If so, then you have a disregarded entity and the income will be reported on your personal return.