Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

@Michael Plante @Bill Brandt @John Morgan Glad to see it works in practice and not just in theory!

Let's break down the pros and cons of each approach:Forming an LLC in the State Where the Property is Located:Pros:Compliance with Local Laws: Establishing an LLC in the state where the property is situated ensures compliance with local regulations and laws specific to that jurisdiction.Legal Clarity: It provides clear legal jurisdiction and may simplify any legal proceedings related to the property in that state.Perception: Operating with a local LLC may give tenants and local authorities confidence in your commitment to the community.Cons:Additional Costs: Setting up and maintaining an LLC in another state means incurring additional registration fees, taxes, and possibly hiring local legal counsel.Administrative Burden: Managing multiple LLCs across different states adds complexity to your administrative workload, including extra paperwork and compliance requirements.Tax Implications: You may face tax obligations in both the state where the property is located and your home state, potentially leading to double taxation or complexities in tax filings.Managing Through Home State LLC:Pros:Simplified Management: Handling all properties under a single LLC streamlines administrative tasks, reducing paperwork and simplifying tax filings.Cost Savings: Avoiding the need to establish multiple LLCs in different states saves on registration fees, legal expenses, and ongoing maintenance costs.Consistency: Uniformity in management practices and legal structures may contribute to efficiency and ease of operation across your real estate portfolio.Cons:Legal Exposure: Operating out-of-state properties under a home state LLC may expose your personal assets to the laws and liabilities of the other state, potentially diminishing the liability protection the LLC offers.Compliance Challenges: You'll need to ensure your home state LLC meets the legal requirements for conducting business in other states, which could involve additional filings and fees.Perception and Credibility: Some tenants or local stakeholders may prefer dealing with a landlord who has a local presence, which could impact your reputation or relationships in the community.Ultimately, the decision depends on your specific circumstances, risk tolerance, and long-term goals.

Maybe that is one of your interview questions.If you are very top producer there can be some advantages, like employing your kids, SEPs or retirement plans and maybe if you have a big team some shield of liability if you set it up right and practice what your attorney teaches you to do to keep everything separate.

I am now being yelled at, called names, and having my business practices insulted.

While there are more complicated ways to measure this, the most practical way if you care about answering the question "how much do I make every month" is just income - expenses = cashflow.

I'm going to appeal with the county, and wondering if there are any best practices to get a successful one.

My hope in joining this community is to learn more from others with experience, get a better understanding of the real estate / rental market as a whole, learn best practices when considering an investment property, get recommendations on educational material, and make professional connections along the way.

High standards and ethical practices will build your reputation.Shifting your mindset to treating real estate investing as a serious business is fundamental to success.

BTW, we have received some nice checks years later from a few tenants who decided to pay off their judgment to close on their dream house.Does this practice often result in you collecting some money?