Hey all,I recently closed on a 3 unit property which I am going to house hack which brings my portfolio to a total of 5 doors (including the one im living in) and am curious if it would be wise to have an LLC for each property and setting them up as individual companies?

The main data to watch is some stuff you're already watching, but probably some others you are not.

However, this structure provides two main benefits: 1) I don't have to build a big marketing machine to raise money.  

A couple of things happened in the last few months including a lump sum pay out for a retirement from a company for whom I previously worked and I inherited a modest sum unexpectedly. 

Gutted main floor and new construction second floor for added sqft. 

The project will be a mix of 20-60% commercial space, and 40-80% residential units, including a 15,000 square foot expansion of the Old Town North Arts District.

The main challenge was ensuring the buyer was ready to close immediately, but our pre-listing strategy and efficient processes made this a seamless and successful transaction.

Make sure utilities are available, and that you have tap fees included in your estimate, as well as engineering (site plan), architectural plan, and other bits you might need to consider for your market (landscaping and costs of sale, for example).

For example, in Michigan those additional expenses would include revenue stamps owing for two closings. 

How can I best prepare for managing two rental properties, including handling maintenance, vacancies, and tenants?