No expert on either taxes or asset protection, but I can't see any point in creating a CO LLC to own property in IL.

After all that, so far peacefully, they tell me that they found a co-signer for a small loan and *may* have rent in time for the 5th.

If you think Realtors might have buyers who want your properties, and you are willing to pay a co-op fee to them, why not just list your properties on the MLS with a flat fee service for a couple hundred bucks?

Ken - Best source for these types of loans (equity loans with flexible payments options) is going to be a small, local bank, a Credit Union bank or a Co-Op bank such as a rural farmers bank.

CO was very unrepresented, but its mostly because BP dosnt advertise as a CO REIA and have monthly meetings or anything.

Cash on his end and a mortgage on my end (possibly with him as a co-signer if needed).Hope to learn a lot from everyone here :)

Such issues may apply for estate tax treatments depending on how the title is made as you can have a co-borrower who would not otherwise qualify.

The home warranties usually run $200-$600 a year with a co pay of at least $50 per repair.

Would my wife being a co borrower affect the rate?

When a tenant/optionee has an equitable interest they can be named as a co-insured on a policy.