For liability purposes our financial advisor is recommending creating a LLC for managing all of the STR stuff.

@Andrew Drasch As an entrepreneurial CPA, I believe that mastering your craft is essential, and that investing money strategically leads to greater financial success.

This is much lower than the costs associated with refinancing.Benefits of Mortgage RecastingLower Monthly Payments: The most immediate benefit is a reduced monthly payment, which can free up cash for other financial goals.Save on Interest: By reducing your principal balance, you’ll pay less interest over the life of the loan, potentially saving thousands of dollars.No Credit Check or Appraisal: Unlike refinancing, recasting doesn’t require a credit check, income verification, or home appraisal, making it a quicker and simpler process.Keep Your Current Interest Rate: If you have a favorable interest rate on your current loan, recasting allows you to maintain it while still lowering your payments.Drawbacks of Mortgage RecastingRequires a Lump Sum: Not everyone has the cash on hand to make a significant lump sum payment, which can make recasting inaccessible for some homeowners.Doesn’t Shorten Loan Term: While your monthly payments are lower, recasting doesn’t reduce the length of your loan.

Multifamily rentals are a great way to achieve financial freedom, and it sounds like you’re on the right path.My advice?

You Can Only Have 35 Non-Accredited InvestorsRule 506(b) allows an unlimited number of accredited investors but restricts you to only 35 non-accredited investors.However, there’s a catch:Non-accredited investors must be financially sophisticated.They must have enough experience to evaluate the investment risks.From the SEC:“Securities may not be sold to more than 35 non-accredited investors… [who] must meet the legal standard of having sufficient knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of the prospective investment.”If you’re planning to include non-accredited investors, make sure they qualify—or you could be violating SEC rules.3.

I am not privy to their financial situation.

I would not want to be the accountant at this firm though trying to track all of this, especially if they have to file consolidated financials -  Woof. 

I’m happy to be in a forum with fellow investors and people wanting to master real estate.  I enjoy hearing about peoples’ personal wins and innovative, creative strategies.  I hope to be able to contribute to other p...

While it may seem unfair to offer financial incentives to problematic tenants, sometimes it’s the quickest and least costly way to regain control of your property and move forward.Lastly, connect with local landlord associations or advocacy groups.

Whether you’re an experienced investor or just starting, understanding the dynamics of JVs can help you grow your portfolio and achieve your financial goals.1.