Experienced investors typically value properties like yours by analyzing cap rates, cash-on-cash returns, and income growth potential.

Would that lower our tax liability from other income we receive or no because this is purely RE and not an operating business?

While raising money is an important skill, what makes or breaks the investment will be operations. 

A typical PPM will cost about $10K. 

@Kyle Kulhanek To retitle your Chicago condo into an LLC for liability protection, start by forming the LLC with a clear operating agreement outlining ownership and responsibilities.

It will also allow you to focus more of your time and resources in the actual real estate vs. raising capital which usually leads to poor real estate acquisition and operational decisions because raising capital is your full time job leaving an inadequate amount of time for the real estate.OK, chasing 32unit apartments, acquisition priced between 3.2M - 4.8M.  

These documents include your operating agreement/ corporate bylaws, articles of organization, certificate of standing, and the EIN letter. 

Reason being HML's are typically short term loans that are interest only.

Typically, a Subway will go for 3.25x EBITDA.

If the LLC and its income are entirely outside California, it typically does not require registration with the California Secretary of State (SOS) or payment of California Franchise Tax Board (FTB) fees, even if you reside in California.