Both claim they were married to the borrower via Texas’s common law marriage rules.

AND, if you ever sell without a 1031 before you die you’ll probably end up paying higher taxes in the end.

LTR is stable, slow, and risk is low but potentially not as much cash (right away).Comes down to what goals you have and your risk threshhold - I have friends in CO springs who do STR and MTR, and works out great - but also have folks who LTR in that area and it pays for them self and it a great way to save money in places like taxes and build equity.  

LLCs require additional filing fees and tax returns and just complicate things.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Tax assesments can be way off.

Its interest income - unless you wanted to run it through a C corp but then you pay corp tax first.Other option is to use a deferred retirement account. 

The entity you select can impact everything from how you're taxed to how you protect your personal assets.LLCs are often the go-to for real estate investors because of their simplicity and flexibility.

The tax assessor will usually send a tax bill to an address the owner is listed as recieving it.

One thing I did note is my insurance is $3K a year lower due to the monitored fire suppression system in these larger properties versus my smaller properties that sleep 12 or less built close to the same time.As someone who has lived in Illinois twice, the politicians there don't care if people burn as long as they can tax and spend.