For residential mortgage, an LLC needs two years of its own tax returns or occasionally, a local credit union where you have an account will ok it.The bigger question is about your partnership.

I claimed for years 1) initial cash flow and cash flow over a long hold have a poor coupling 2) that I would purchase a property with negative initial cash flow.  3) I cared about total return and did not give a $hit about cash flow if the other returns produce an outstanding return 4) that cash flow is my least favorite return because it gets taxed annually. 

Once you have a shortlist, sign up for an account with each one and test them extensively to see how they function.

I was told by my tax person that I can only deduct a percentage and not the total cost of the remodel.Thank youI am not sure why your accountant would mention you can only deduct a percentage.

I.e. a group that was getting 30+% returns out of a 2017 acquisition with a sale in 2019, should be looked at loosely against other sponsors with deals of similar acquisition date, as general market timing is really going to be 90% of the overall return, with the operations only accounting for a small part of the overall return.  

Just keep in mind, the costs of setting up and maintaining an LLC and the bank account that goes with it, not exorbitant but important to consider.I'm not a CPA or an attorney, but I would suggest taking the time to diligently put together a trusted team to facilitate your long and successful investment journey!

It's something you want to account for in advance since it is technically not allowed.

LMHA Mail issues: I get mail that's not within 3 days of postmark mail, dated top of form October 23 received November 6th that I had till the 15th to turn in my annual renewal forms.

However, I know that I do not want all my income to be reliant on my day job and live to watch my retirement account grow.I am probably doing better than a lot of people my age but am eager to take the correct steps to build a real estate portfolio.

Monthly Expenses: I’m accounting for rent, utilities, and cleaning supplies, but are there other hidden costs I should consider?